plumiMonetary policy: OCR A‑Level Economics questions
Every OCR A-Level Economics exam question on 3.2 Monetary policy, 2021–2025, with its mark scheme and examiner’s report.
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![June 2025 Paper 3, question 11: Which components of aggregate demand (AD) could a change in interest rates affect? A C B C + I C C + I + G + (X – M) D C + I + (X – M) [1]](https://pub-e8a9dbab8e2a4d089f52b2a45e0d0b50.r2.dev/bank/h46003-jun25-11-qp.webp)
Your answer![June 2025 AS Paper 2, question 2: Which target is set for the Bank of England? A Exchange rate B Inflation C Interest rate D National debt [1]](https://pub-e8a9dbab8e2a4d089f52b2a45e0d0b50.r2.dev/bank/h06002-jun25-02-qp.webp)
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Your answer
![June 2024 Paper 3, question 36: 36* Evaluate, using the information in Extract 2, whether increasing the interest rate was an effective way to combat rising inflation. [15]](https://pub-e8a9dbab8e2a4d089f52b2a45e0d0b50.r2.dev/bank/h46003-jun24-e2-36-qp.webp)
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Your answer![June 2023 AS Paper 2, question 1: Which of these is a tool of monetary policy? A Income tax B Interest rates C Subsidies to firms D Welfare payments [1]](https://pub-e8a9dbab8e2a4d089f52b2a45e0d0b50.r2.dev/bank/h06002-jun23-01-qp.webp)
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Q1(e)
The whole paper ↗![June 2022 Paper 2, question 1(e): Using information from the stimulus material, evaluate whether setting an inflation rate target is likely to result in low and stable inflation. [8]](https://pub-e8a9dbab8e2a4d089f52b2a45e0d0b50.r2.dev/bank/h46002-jun22-01-e-qp.webp)
Q16(b)(i)
The whole paper ↗![June 2022 AS Paper 2, question 16(b)(i): Using Fig. 2, state what has happened to Japan’s interest rate between 2017 and 2019. [1]](https://pub-e8a9dbab8e2a4d089f52b2a45e0d0b50.r2.dev/bank/h06002-jun22-16-bi-qp.webp)
Q16(b)(ii)
The whole paper ↗![June 2022 AS Paper 2, question 16(b)(ii): Other than interest rates, explain one expansionary monetary policy that Japan’s central bank could use. [2]](https://pub-e8a9dbab8e2a4d089f52b2a45e0d0b50.r2.dev/bank/h06002-jun22-16-bii-qp.webp)
Q1(d)
The whole paper ↗![November 2021 Paper 2, question 1(d): Using Fig. 3, explain what is likely to have happened to UK share prices at the start and the end of the period shown. [4]](https://pub-e8a9dbab8e2a4d089f52b2a45e0d0b50.r2.dev/bank/h46002-nov21-01-d-qp.webp)
Q1(f)
The whole paper ↗
All 16 questions on Monetary policy, as a list
- June 2025, Paper 3, Q11 (1 mark): Which components of aggregate demand (AD) could a change in interest rates affect? A C B C + I C C + I + G + (X – M) D C + I + (X – M) [1]
- June 2025, AS Paper 2, Q2 (1 mark): Which target is set for the Bank of England? A Exchange rate B Inflation C Interest rate D National debt [1]
- June 2025, AS Paper 2, Q12 (1 mark): Which policy is likely to include an increase in the money supply? A Contractionary fiscal policy B Contractionary monetary policy C Expansionary fiscal policy
- June 2024, Paper 2, Q5 (25 marks): 5* In 2021, the Economic Affairs Committee of the House of Lords in the UK published a report which questioned whether the Bank of England was addicted to using
- June 2024, Paper 3, Q35 (2 marks): Using Fig. 2.2, identify what evidence there is that the rate of interest may not have been a large determinant of household saving in the UK between 2020 and 2
- June 2024, Paper 3, Q36 (15 marks): 36* Evaluate, using the information in Extract 2, whether increasing the interest rate was an effective way to combat rising inflation. [15]
- June 2024, AS Paper 2, Q7 (1 mark): What is an example of a contractionary monetary policy? A Increasing government expenditure by £1bn B Increasing interest rates by 1% C Increasing quantitative
- June 2023, Paper 2, Q3 (25 marks): 3* Between July 2018 and August 2020, the value of the Turkish lira fell from 4.73 lira to 1 US dollar to 7.32 lira to 1 US dollar. The Turkish central bank spe
- June 2023, Paper 3, Q27 (1 mark): The European Central Bank aims to keep the price level in the Eurozone rising at a rate of below but close to 2% a year. What is this an example of? A A conflic
- June 2023, AS Paper 2, Q1 (1 mark): Which of these is a tool of monetary policy? A Income tax B Interest rates C Subsidies to firms D Welfare payments [1]
- June 2023, AS Paper 2, Q17 (20 marks): 17* The Central Bank of Australia’s inflation rate target is between 2% and 3%. In 2019, Australia’s inflation rate increased from 1.3% to 1.8%. During 2019, th
- June 2022, Paper 2, Q1(e) (8 marks): Using information from the stimulus material, evaluate whether setting an inflation rate target is likely to result in low and stable inflation. [8]
- June 2022, AS Paper 2, Q16(b)(i) (1 mark): Using Fig. 2, state what has happened to Japan’s interest rate between 2017 and 2019. [1]
- June 2022, AS Paper 2, Q16(b)(ii) (2 marks): Other than interest rates, explain one expansionary monetary policy that Japan’s central bank could use. [2]
- November 2021, Paper 2, Q1(d) (4 marks): Using Fig. 3, explain what is likely to have happened to UK share prices at the start and the end of the period shown. [4]
- November 2021, Paper 2, Q1(f) (12 marks): (f)* Using information from the stimulus material, evaluate whether a negative interest rate would help the government achieve its macroeconomic objectives. [12
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