Economics 9708/41 Oct Nov 2016 | Cambridge AS Level Past Papers With Mark Scheme

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1. Explaining differences between monetary and fiscal policies, identifying examples, and discussing their application during a recession.

2. Analyzing "technological unemployment," its persistence among less skilled and elderly workers, and its role in labor market dynamics.

3. Using aggregate demand and aggregate supply diagrams to illustrate equilibrium at less than full employment.

4. Contrasting opposing views on government recession policies, supported by evidence on public expenditure and monetary measures.

5. Evaluating the concept of the "invisible hand" in resource allocation within modern complex economies.

6. Comparing standard of living metrics and development needs between developed and developing economies.