Economics 9708/03 May June 2007 | Cambridge AS Level Past Papers With Mark Scheme

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1. Economic Growth: Explaining how economic growth is defined and identifying two reasons behind India’s slowing growth, including the fuel shortage and lack of infrastructure investment.

2. Supply-Side Policy (Tax Cuts): Explaining why tax cuts are considered a supply-side policy, with a focus on the incentives for labor to work additional hours and for entrepreneurs to invest.

3. Labor Supply and Tax Rate Reductions: Analyzing the effect of reducing marginal tax rates on labor supply with the help of diagrams and discussing the potential impact on government revenue if the response is greater than one.

4. Brazil’s Economic Performance: Evaluating whether Brazil's government policies toward Coal India and other sectors have been disadvantageous for businesses and economic growth, using the information provided in the article.

5. Tax Reduction and Economic Growth: Discussing the evidence on whether reducing tax rates leads to improved economic growth, considering the historical context of tax cuts and their economic impacts in the U.S.

6. Price Discrimination: Assessing whether Cunard's pricing strategy for tickets is an example of price discrimination and discussing whether such practices can be justified from an economic perspective.