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Economics · 2019 · May · Paper 2 · SL · Question paper

EconomicsQuestion paper2019SLMay

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This question paper is listed under Economics in the 2019 examination archive. Its catalogue level is SL. The catalogue session is May. The information below helps you identify the document before opening the complete PDF. Subject, year and session labels come from the archive catalogue; the original cover remains the reference if a label differs. A file is not automatically suitable for your current syllabus simply because its subject name matches.

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Economics Standard level Paper 2 9 pages Thursday 16 May 2019 (morning) 1 hour 30 minutes Instructions to candidates yy Do not open this examination paper until instructed to do so. yy You are not permitted access to any calculator for this paper. yy Section A: answer one question. yy Section B: answer one question. yy Use fully labelled diagrams and references to the text/data where appropriate. yy The maximum mark for this examination paper is [40 marks]. © International Baccalaureate Organization 2019 M19/3/ECONO/ SP2/ENG/TZ0/XX 2219 – 5113 Section A Answer one question from this section. 1. Study the following extract and answer the questions that follow. United States (US) tin can manufacturers seek tariff exemption on tinplate steel The Can Manufacturers Institute (CMI) has asked the US Department of Commerce to take away tariffs and other trade protection measures that are currently applied to imports of tinplate steel. Tinplate steel is used to make tin cans as packaging for food. The CMI represents the tin can manufacturing industry and its suppliers in the US. The tin can manufacturing industry accounts for the annual domestic production of approximately 124 billion tin cans. The industry employs more than 28 000 people, with factories in 33 US states, Puerto Rico and American Samoa. It generates revenue of around US$17.8 billion. The CMI claims that the tariff on imports of tinplate steel has a severe economic impact on the tin can manufacturing industry. Approximately 2 % of all US steel is tinplate. Currently, there is excess demand that is causing a disequilibrium in the domestic US tinplate steel market. In 2016, US demand for tinplate steel was 2.1 million tons, while domestic supply was 1.2 million tons, meaning that only 57 % of domestic demand was met by US tinplate steel producers. Not only is there a domestic shortage of tinplate steel, but also the CMI claims that there has been a noticeable decline in the quality of domestically-produced tinplate steel. The CMI claims that even a small increase in the price of raw materials could create a competitive disadvantage, forcing some tin can manufacturing plants to shut down. This
File information
Subject
Economics
Document type
Question paper
Year
2019
Session
May
Level
SL
Paper
2
Examination zone
Not labelled in the archive
Language
Not labelled in the archive
File size
719 KB
Pages
9
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