Evaluate policies which could be used to boost South Korea’s exports and increase its trade surplus

AQA A-Level Economics Paper 1 June 2021 Insert

Using the data in the extracts and your knowledge of economics, evaluate policies which could be used to boost South Korea’s exports and increase its trade surplus. (25 marks)

Plan

• Paragraph 1
  • Argument: one policy that can be used to increase South Korea's exports is a currency devaluation
  • Diagram: exchange rate diagram
  • Evaluation: difficult to achieve with a floating exchange rate
• Paragraph 2
  • Argument: another policy that can be used to increase South Korea's exports is supply-side policies
  • Diagram: right shift in LRAS
  • Evaluation: time lag and opportunity cost

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