Economics 9708/04 Oct Nov 2003 | Cambridge AS Level Past Papers With Mark Scheme

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1. Analysis of Singapore’s 2001 recession causes: external demand decline versus cost competitiveness erosion.
2. Labor market adjustments during recessions illustrated with demand-supply diagrams showing job losses and reduced vacancies.
3. Government spending on retraining and financial incentives for older workers as measures to boost employment and productivity.
4. Tax receipt trends and their relationship to economic activity, questioning whether all indicators support a recession narrative.
5. Allocation efficiency and equity in government aid decisions for agriculture versus tourism during crises.
6. Comparison of fiscal and monetary policies for managing inflation and their respective roles in economic stabilization.