Sample 3

IB Economics: Sample 3

(ai) Tariff is a duty or indirect tax levied on foreign imports from another country.ii. Economic growth is the increase in GDP per capita. This means that citizens are better off.i. 2 marks for a correct definition. Responses may use duty or tax in their response.ii. 0 marks for an incorrect definition. Economic growth refers to a rise in real output / GDP or an increase in the potential output of the economy, not...

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