[randyunknown]

yh it wud but wasnt the question asking just about supply? i cant remember now

[plan_up_sleeve]

What about the one where it asked whether the decrease in the amount of chickens led to a tightening of fiscal policy?

[mr29]

(Original post by Tyles)
firms could produce at a lower cost due to less salaries being paid. so yes.

It was 500 000 public sector jobs, so I don't think that would be a factor. AS would shift to the left (AS would decrease) - I think

[Setsuna-F-Seiei]

What did people put for the last question for section B about inflation? I did a AD shift upwards and called it Stagflation then said some explanations... But i missed about half of evaluation marks :'(

[Sarah456]

(Original post by randyunknown)
I dont know if youre trying to say AS should be shifted right, but im pretty sure 500,000 decrease in jobs means we shift AS to the left due to a smaller work force

Thats definately what I did.

[randyunknown]

(Original post by Setsuna-F-Seiei)
What did people put for the last question for section B about inflation? I did a AD shift upwards and called it Stagflation then said some explanations... But i missed about half of evaluation marks :'(

Effects of inflation:
1) The Phillips curve, and the trade off between high inflation and unemployment
2) Effect on distribution of income (inflation affects lower income groups more due to their larger proportion of expenditure going to hire purchases/inferior goods)
Whereas higher groups most likely have higher savings from before, and that they can switch from luxury to normal / inferior goods if they have to.
3) Negative effect on balance of payments as firms are less competitive.

Just want to make sure others did similar things?

[PPF]

someone talk about 1D the 30 marker

[PPF]

i defined macro objectives and listed them all
then i gave a little explanation on labour market policies and my points were

NMW decreases potential growth as costs increase so AS decreases

i said that the benefit reforms cause dependancy culture so less supply of labour so inflation due to wage pressures

and i think that i said NMW can increase unemployement and stuff

then for evaluation i said howver there are benefits i.e. equal distribution of income
also something about environment as unemployments higher
and also something about the bop improving i cant remember exactly
i also said that in the long run the govt could use supply side policies to increase labour flexibility and also theyre already cracking down on the false benefit claims

i drew about 4 AS/AD diagrams in this answer but for some reason i think ive made a terrible mistake or misread the question, anyone else done this question???

[Akibbd]

(Original post by randyunknown)
Effects of inflation:
1) The Phillips curve, and the trade off between high inflation and unemployment
2) Effect on distribution of income (inflation affects lower income groups more due to their larger proportion of expenditure going to hire purchases/inferior goods)
Whereas higher groups most likely have higher savings from before, and that they can switch from luxury to normal / inferior goods if they have to.
3) Negative effect on balance of payments as firms are less competitive.

Just want to make sure others did similar things?

I started with defining inflation and macro objectives. I initially drew an AD upward shift diagram then rubbed it off and replaced it with a Phillips Curve. Dunno if I was right in doing that :/

Then i proceeded to talking about the conflict between inflation and unemployment.
Economics growth due to inflation and it's sustainability.
Lastly I talked about inflation versus B\P disequilibrium.

For evaluation, I talked about stagflation.
Then I wrote about renewable energy sources and green technology ( REOC as well. )
Lastly I wrote about the strength of the pound in determining the extent of the B\P disequilibrium.

I also added a small conclusion that government should use a mixer of both supple side and demand side policies to achieve it's macro objectives effectively.

Does that sound alright? How much is this worth?

[emilu]

does anyone have the business and economics unit2b paper and mark scheme for january 2012?

[emilu]

anyone have economics and business unit2b edexcel janauray 2012 paper and mark scheme?

[Hwee Ling]

(Original post by jdthemagicman)
Hey Guys.

I have already done Economics AS but at the request of several inboxes, heres a little TSR present from the king of revision notes..managed to get my hands on the exclusive St Pauls note ( who get 50 % of their kids into oxbridge). It seems unfair that they have access to the best resources simply because they can afford to pay more. So heres a little present for ya - They really are bloody amazing.

Thumbs up all round!

Much love, and good luck x :

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http://www.2shared.com/document/FjRQ...1_-_2004-.html
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