Economics 9708/21 May June 2019 | Cambridge AS Level Past Papers With Mark Scheme

The user can download the PDF file for detailed review. Key questions summarized:

1. Analysis of yuan's exchange rate changes against the US dollar (2014–2017) and their economic implications.
2. Examination of protectionist measures, such as tariffs and import quotas, with diagrammatic explanations of their effects.
3. Effects of China's falling current account surplus on economic growth and external balances.
4. Reasons for China's preference for a managed float exchange rate system, considering stability and trade competitiveness.
5. Evaluation of winners and losers in a protectionist trade war between the US and China, focusing on consumers, producers, and governments.
6. Discussion of deflation versus inflation as economic challenges, incorporating demand and supply dynamics and policy impacts.