A level OCR Economics (MACRO) Exam 2026 Questions and Answers Graded A+

A level OCR Economics (MACRO) Exam
2026 Questions and Answers Graded A+

aggregate demand - Correct answer-ability and willingness of all economic agents

to spend in the economy

aggregate demand components - Correct answer-consumption, Investment,

government expenditure, imports and exports

AD formula - Correct answer-C + I + G + (X-M)

aggregate demand curve - Correct answer-

expectations - Correct answer-views that economic agents have about what will

happen in the future for the economy

aggregate supply - Correct answer-the total supply of all goods and services

produced within an economy at an overall price

SRAS - Correct answer-goods that firms are willing and able to produce at a given

price level in the short run




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, LRAS - Correct answer-maximum that can be produced with all the factors of

production

keynesian AS curve - Correct answer-

short run macroeconomic equilibrium - Correct answer-point at which AD and AS

meet

long-run neoclassical macroeconomic equilibrium - Correct answer-

output gap - Correct answer-difference between the actual level of GDP and full

employment level

economic growth - Correct answer-change in national output overtime measured

by GDP

real GDP - Correct answer-GDP at constant prices + inflation is taken into account

nominal GDP - Correct answer-GDP at current prices + inflation is not taken into

account

economic growth rate formula - Correct answer-(change in GDP/original GDP) x

100

GDP per capita - Correct answer-GDP/population

short run economic growth - Correct answer-


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