Edexcel AS Economics (New Spec) Unit 2 - 23rd May 2016

What I wrote for the 15 marker was that the MPC should be worried about deflation. Firstly I said that inflation is at the lowest it has ever been and said that they should look at using the expansionary MPC because the economy is really close to falling into deflation. Evaluated that by saying that interest rates are already low but inflation is still low, meaning that manipulating interest rates to change inflation is uneffective and they should use quantitative easing instead. Also I mentioned that it is a worrying factor because there are no certain tools which the MPC can use to get out of deflation and mentioned that we can become like Japan. Saying that deflation is bad because people are constantly not going to consume because they will know that prices are always falling they'll keep on waiting till it gets low instead of purchasing now, hence a negative impact on AD occurs

Who the hell are you to say this?

Because I've written more exams than you can dream of right now. I'm a pro exam taker at this point and I know the common pitfalls because I went through them myself. Don't take offense.

Did you evaluate saying that the deflation may be caused by other factors such as the fall in oil prices meaning production was cheaper which was passed on to consumers as lower prices creating a fall in the overall level of prices?

For the 20 marker on demand-side policies, do you think you had to specifically relate to policies regarding the financial crisis? I went through the components of Aggregate Demand and listed policies that could have been used, I didn't realise we were supposed to use real world examples as that wasn't on the spec nor was it in any of the past papers? Have I completely ballsed that question up?

Yes, it was on the spec, and in the new text/revision books
It wasn't on any past papers because it is a new topic.

You will still get some marks for writing appropriate policies

now I feel I may as well not have turned up.

Don't say that!

I included real world context in the evaluation also.
Don't worry about it - if you were not taught it, it is not your fault (Although I would therefore have recommended that you did the first 20 mark question instead).

I wasn't taught it either. Although I just applied the theory and said what was done at the time. The extract provided an insight into what policies were used too.

I didn't realise it was the spec, so I just assumed it was any demand side policies. I did a decrease in income tax- probably should have mentioned VAT instead. Reduction in co-operation tax, lowering the base rate of interest.... I just hoped I picked up enough marks. Absolutely gutted.

Why would I take offence (not 'offense' - maybe you need to take some more English exams)?

Any why would I dream of exams?

You have no right to tell someone @SubZero~ 'that they don't know their work'

Oh, and what makes you a 'pro exam taker'? I have never heard of someone so arrogant before!

I said:
Monetary:
- reduce base rate
Evaluation: interest rates were in-effective following 2008 due to poor confidence, leading to the introduction of QE e.g Extract A: 0.5%, near deflation...
- QE
Evaluation...
Fiscal:
- Government Spending
Evaluation...
- Reduce Taxes
Evaluation...

Lol you can argue all you want, point out typos to make yourself feel better. I'm just giving helpful advice. The only arrogant one here is you because I've already completed A levels and have top grades and go to a top uni and you think you know better when you're only doing AS exams.

Lol you can argue all you want, point out typos to make yourself feel better. I'm just giving helpful advice. The only arrogant one here is you because I've already completed A levels and have top grades and go to a top uni and you think you know better when you're only doing AS exams.

I don't see what was helpful about your advice.
I appreciate that you may have processed further through the education system than me (I cannot do anything about my age)
But this gives you no reason to tell people 'how much they know'.

You may be intelligent - but you really ought to brush up on how you communicate with peers - Particularly on an anonymous site such as this, where you do not know how sensitive others may be.

btw: You are not a 'pro exam taker'- You look extremely arrogant in saying this.

People have to learn to face facts in order to do better. The only reason people go blank in exams is when they don't know their work very well. You're telling me that of you your work to a T and then you sit and can't remember anything for 1.5+ hours? That doesn't make any sense. You can argue from any angle you want but I'm right.