Economics 9708/04 Oct Nov 2007 | Cambridge AS Level Past Papers With Mark Scheme

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1. Explaining economic growth, with a focus on factors like fuel shortages and government policies in India that contributed to slowing growth.

2. Analyzing why cutting tax rates is considered a supply-side policy and the potential effects of such tax reductions on economic growth and labor supply.

3. Using diagrams to explain how marginal tax rate reductions can affect labor supply, and analyzing how this impacts government revenue if the response is greater than one.

4. Assessing whether Brazil’s economic struggles can be attributed to government policies on taxation, infrastructure, and trade, and comparing it to Mexico’s more favorable policy approaches.

5. Evaluating the evidence regarding the relationship between tax cuts and economic growth in the U.S., discussing whether the cuts have led to consistent improvements.

6. Exploring price discrimination strategies like Cunard’s pricing approach, considering the justification for such practices and their impact on consumers and firms.