Oxford Cambridge and RSA
Examinations
GCEEconomicsH060/02:
Macroeconomics AS Level
question paper with marking
scheme (merged)
, Oxford Cambridge and RSA
Monday 22 May 2023 – Morning
AS Level Economics
H060/02 Macroeconomics
Time allowed: 1 hour 30 minutes
You can use:
* 9 0 7 6 4 3 9 5 0 4 *
• a scientific or graphical calculator
* H 0 6 0 0 2 *
Please write clearly in black ink. Do not write in the barcodes.
Centre number Candidate number
First name(s)
Last name
INSTRUCTIONS
• Use black ink. You can use an HB pencil, but only for graphs and diagrams.
• Write your answer to each question in the space provided. If you need extra space use
the lined pages at the end of this booklet. The question numbers must be clearly shown.
• Answer all the questions in Sections A and B and one question in Section C.
INFORMATION
• The total mark for this paper is 60.
• The marks for each question are shown in brackets [ ].
• Quality of extended response will be assessed in questions marked with an asterisk (*).
• This document has 20 pages.
ADVICE
• Read each question carefully before you start your answer.
© OCR 2023 [601/4801/9] OCR is an exempt Charity
DC (ST/SG) 300491/6 Turn over
, 2
SECTION A
Write your answer to each question in the box provided.
1 Which of these is a tool of monetary policy?
A Income tax
B Interest rates
C Subsidies to firms
D Welfare payments
Your answer [1]
2 Frictional unemployment occurs when:
A cheap steel from abroad reduces demand for UK steelworkers
B farm workers do not have a job during the winter months
C the economy is in a period of recession
D workers are transferring between jobs
Your answer [1]
3 Which economic activity is found in the secondary sector?
A Banking
B Growing corn
C Producing cars
D Providing insurance
Your answer [1]
4 Competition policy is an example of:
A exchange rate policy
B fiscal policy
C monetary policy
D supply side policy
Your answer [1]
© OCR 2023
, 3
5 The diagram shows the circular flow of income.
Y
HOUSEHOLDS
income expenditure
FIRMS
Which of these could be shown by Y on the diagram?
A Exports
B Government expenditure
C Investment
D Savings
Your answer [1]
6 What is included in the calculation of RPI inflation but excluded from the calculation of CPI
inflation?
A Children’s clothes
B Council tax
C Medicines
D Petrol
Your answer [1]
7 What will lead to an upward movement along the aggregate demand curve?
A An increase in consumption
B An increase in government expenditure
C An increase in investment
D An increase in the price level
Your answer [1]
© OCR 2023 Turn over
Examinations
GCEEconomicsH060/02:
Macroeconomics AS Level
question paper with marking
scheme (merged)
, Oxford Cambridge and RSA
Monday 22 May 2023 – Morning
AS Level Economics
H060/02 Macroeconomics
Time allowed: 1 hour 30 minutes
You can use:
* 9 0 7 6 4 3 9 5 0 4 *
• a scientific or graphical calculator
* H 0 6 0 0 2 *
Please write clearly in black ink. Do not write in the barcodes.
Centre number Candidate number
First name(s)
Last name
INSTRUCTIONS
• Use black ink. You can use an HB pencil, but only for graphs and diagrams.
• Write your answer to each question in the space provided. If you need extra space use
the lined pages at the end of this booklet. The question numbers must be clearly shown.
• Answer all the questions in Sections A and B and one question in Section C.
INFORMATION
• The total mark for this paper is 60.
• The marks for each question are shown in brackets [ ].
• Quality of extended response will be assessed in questions marked with an asterisk (*).
• This document has 20 pages.
ADVICE
• Read each question carefully before you start your answer.
© OCR 2023 [601/4801/9] OCR is an exempt Charity
DC (ST/SG) 300491/6 Turn over
, 2
SECTION A
Write your answer to each question in the box provided.
1 Which of these is a tool of monetary policy?
A Income tax
B Interest rates
C Subsidies to firms
D Welfare payments
Your answer [1]
2 Frictional unemployment occurs when:
A cheap steel from abroad reduces demand for UK steelworkers
B farm workers do not have a job during the winter months
C the economy is in a period of recession
D workers are transferring between jobs
Your answer [1]
3 Which economic activity is found in the secondary sector?
A Banking
B Growing corn
C Producing cars
D Providing insurance
Your answer [1]
4 Competition policy is an example of:
A exchange rate policy
B fiscal policy
C monetary policy
D supply side policy
Your answer [1]
© OCR 2023
, 3
5 The diagram shows the circular flow of income.
Y
HOUSEHOLDS
income expenditure
FIRMS
Which of these could be shown by Y on the diagram?
A Exports
B Government expenditure
C Investment
D Savings
Your answer [1]
6 What is included in the calculation of RPI inflation but excluded from the calculation of CPI
inflation?
A Children’s clothes
B Council tax
C Medicines
D Petrol
Your answer [1]
7 What will lead to an upward movement along the aggregate demand curve?
A An increase in consumption
B An increase in government expenditure
C An increase in investment
D An increase in the price level
Your answer [1]
© OCR 2023 Turn over
