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EcoHL P2 M02 - A bus company decides to reduce passenger...

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ECONOMICS HIGHER LEVEL PAPER 2 Thursday 16 May 2002 (afternoon) 1 hour M02/330/H(2) c IB DIPLOMA PROGRAMME PROGRAMME DU DIPL°ME DU BI PROGRAMA DEL DIPLOMA DEL BI 222-032 2 pages INSTRUCTIONS TO CANDIDATES ! Do not turn over this page until instructed to do so. ! Answer four questions. ! Use diagrams where appropriate.
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1. The price of tickets for a major tennis tournament is fixed by the organising body. At the set price, many more people wish to attend the tournament than there are seats available. Draw a diagram to illustrate this situation and use your diagram to examine the likely consequences. 2.
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Unformatted text preview: A bus company decides to reduce passenger fares. Explain the possible outcomes of this decision using economic concepts. 3. Use an aggregate demand / aggregate supply diagram to analyse the likely effects of an increase in interest rates. 4. Examine two reasons why a government might wish to control increases in its expenditure. 5. Explain why the depreciation of a country&s exchange rate might not improve its balance of payments? 6. In what ways might a more equal distribution of income contribute to economic development. ± 2 ± M02/330/H(2) 222-032...
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