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Cambridge IGCSE Economics practice

Paper 2 structured question: Fiscal policy

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Fiscal policy

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Paper 2Structured Questions3 marks

A country is experiencing a budget surplus.

Description

Budget Surplus Scenario

The government has collected $600 billion in taxes and spent $550 billion on public services.

  1. a

    Explain the implications of a budget surplus for the economy.

    Aim for approximately 3 distinct marking points.

    [3]

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Paper 2 structured question: Fiscal policy

Paper 2Structured Questions1 marks

Description

Government Budget Overview

The government expects to collect $500 billion in taxes and plans to spend $550 billion on various public services and infrastructure projects.

  1. a

    State the expected budget deficit for the upcoming fiscal year.

    Aim for approximately 1 distinct marking point.

    [1]