Table 1 shows selected data for Norland, where the... | Economics 9214 | Paper 2 Mock 01 | Written Paper 2

Question 1 Report

Table 1 shows selected data for Norland, where the government wants economic growth without high inflation.

(a) Which year had the highest inflation rate? [1]
(b) State the percentage-point decrease in inflation from 2022 to 2023. [1]

Answer

Answer Details

(a) 2022 had the highest inflation rate, at 6.7%. [1]

(b) The fall is measured in percentage points because two percentage rates are being compared:

\[6.7\%-3.4\%=3.3\text{ percentage points}\]

The inflation rate decreased by 3.3 percentage points. [1]

Table 1 shows selected data for Norland, where the government wants economic growth without high inflation. Year Real GDP growth (%) Inflation rate (%) 2021...