2022 pearson june booklet + mark scheme Edexcel International GCSE 4EC1/02 Economics Level 1/2 PAPER 2: Macroeconomics and the Global Economy

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Answer ALL questions. Write your answers in the spaces provided. Some questions must be answered with a cross in a box . If you change your mind about an answer, put a line through the box and then ... mark your new answer with a cross . 1 (a) A firm is described as a multinational corporation (MNC) if it (1) A has shareholders in many countries B exports goods to other countries C is owned by the government D operates in more than one country (b) An increase in which one of the following would be most likely to encourage saving? (1) A Interest rate B Income tax rate C Exchange rate D Indirect tax rate (c) What is meant by the term imports? (2) .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... *P66329A0324* Turn over 3 (d) Describe one reason why governments make benefit payments. (2) .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... Figure 1 shows the UK’s imports and exports for the year ending July 2019. £bn Imports 689.9 Exports 646.7 Total UK trade 1 336.6 Figure 1 (Source: Department for International Trade: UK Trade in Numbers September 2019) (e) Using the data in Figure 1, calculate in £bn, the current account for the UK year ending July 2019. You are advised to show your working. (2) .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................. [Show More]

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