Evaluate the view that economic growth leads to an improvement in living standards
AQA A-Level Economics Paper 1 June 2017 Insert
Evaluate the view that economic growth leads to an improvement in living standards. (June 2023)
Plan
- Paragraph 1
- Argument: an increase in economic growth should improve living standards as gdp and incomes increase
- Diagram: increase in AD
- Evaluation: whether its sustainable depends on short-run vs long-run growth
- Paragraph 2
- Argument: economic growth can damage living standards as it can lead to increases in inflation and inequality
- Diagram: increase in AD at full capacity, Lorenz curve
- Evaluation: incentives, trickedown, redistribution
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