Fiscal and Monetary Policy | Model Answer
A-level Economics
Evaluate the uses of fiscal and monetary policy to aid the economy's recovery.
The economy is at Point A on the diagram.
Here is a question and answer from the national economy section of the A-level Economics syllabus.
This question is an ‘evaluate’ question - the type of question where students have to write a long essay. This question shows the examiner that your knowledge of economics and your ability to apply it to an economic problem.
You have to ensure that when you answer these questions you included good depth and evaluation skills: otherwise, you’ll lose marks.
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Evaluate the uses of fiscal and monetary policy to aid the economy's recovery.
Possible definitions
Fiscal policy
Monetary policy
Outline the meaning of point A in the diagram
What does the graph suggest about the economy?
Fiscal policy
How can fiscal policy be used to aid the economy’s recovery?
What are the benefits?
Monetary policy
How can monetary policy be used to aid the economy’s recovery?
What are the benefits?
Are there any negatives?
Evaluation Statement
Possible diagram
AD/AS
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