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The following tables, Table 1 and Table 2, illustrate the economic indicators of two countries, USA and Japan. Analyse the economic data carefully before you answer the questions listed below. 

Economics Tuition - JC Economics CSQ - Real GDP - Table 1

Economics Tuition - JC Economics CSQ - Real GDP - Table 2

Questions


(a)(i) According to the data, which country has higher standard of living in 2003? Explain how you arrived at your answer. [2]

(a)(ii) What does the data suggest about the cost of living in Japan compared with n that of United States
from 2000 to 2003. [3]

(b) Using Table 1 and Table 2, how does the economic growth rate of United States differ from that of Japan from 2000 to 2003? [3]

(c) Does the information provided above explain that the standard of living is higher for US citizens? [6]

(d) Use the data provided to discuss the main economic concerns of the US government. [6]

Type

JC Economics CSQs

Chapter

  • Macroeconomics
    • Economic Indicators
    • National Income Accounting

Simon Ng

Founder, JC Economics & General Paper Tutor at Economics Focus
JC Economics Tutor Simon Ng of Economics Focus has been teaching A Level Economics and A Level General Paper since 2003. Simon set up Economics Focus to assist students in their pursuit of academic excellence at the examination by providing economics tuition for H1 and H2 students. JC1 and JC2 students are inspired by Simon's clear teaching methods that enabled them to comprehend economics terms and concepts. Simon developed the Rational Thinking methodology to aid students to excel in their JC economics essays and CSQs.
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