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Exam question help

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    Hello, on the attached files, questions 1)c) For Labour market policies I wrote about these three things, and i'm wondering if i would actually get marks for them:

    Government spending on education
    Decrease government spending on benefits i.e JSA
    National minimum wage being increased

    Would I actually get points for this? I hit many of the evulation points specified in the mark scheme but the markscheme states things such as the IB claimants, which i do not understand, if anyone could explain it'd be great.
    Attached Files
  1. File Type: pdf UNIT 2 2012.pdf (133.9 KB, 84 views)
  2. File Type: pdf UNIT 2 2012 MS.pdf (127.6 KB, 173 views)
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    The question is: Assess the likely impact of UK government labour market policies on any three
    macroeconomic objectives. Refer to the information provided and to your own
    knowledge.

    Firstly you should define labour market policies, and they you should choose your points, your first 2 points are fine however the 3rd should be remove/decrease minimum wage. This coupled with decreasing benefits forces people into work and causes a shift to the right of LRAS. (which then eventually pushes out AD due to multiplier effect, evaluation point?)

    You then need to reference to 3 macroeconomic objectives, eg: GDP Growth, Low Unemployment, Sustainability, Positive Balance of trade, price stability and equal distribution of wealth and then explain why.

    Then evaluate, a few examples are; The magnitude of the effects, drop in productivity, difference between classical and keynesian. hope this helps
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    (Original post by MattMaas)
    The question is: Assess the likely impact of UK government labour market policies on any three
    macroeconomic objectives. Refer to the information provided and to your own
    knowledge.

    Firstly you should define labour market policies, and they you should choose your points, your first 2 points are fine however the 3rd should be remove/decrease minimum wage. This coupled with decreasing benefits forces people into work and causes a shift to the right of LRAS. (which then eventually pushes out AD due to multiplier effect, evaluation point?)

    You then need to reference to 3 macroeconomic objectives, eg: GDP Growth, Low Unemployment, Sustainability, Positive Balance of trade, price stability and equal distribution of wealth and then explain why.

    Then evaluate, a few examples are; The magnitude of the effects, drop in productivity, difference between classical and keynesian. hope this helps
    If you do this you'll get a very high mark.
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    (Original post by MattMaas)
    The question is: Assess the likely impact of UK government labour market policies on any three
    macroeconomic objectives. Refer to the information provided and to your own
    knowledge.

    Firstly you should define labour market policies, and they you should choose your points, your first 2 points are fine however the 3rd should be remove/decrease minimum wage. This coupled with decreasing benefits forces people into work and causes a shift to the right of LRAS. (which then eventually pushes out AD due to multiplier effect, evaluation point?)

    You then need to reference to 3 macroeconomic objectives, eg: GDP Growth, Low Unemployment, Sustainability, Positive Balance of trade, price stability and equal distribution of wealth and then explain why.

    Then evaluate, a few examples are; The magnitude of the effects, drop in productivity, difference between classical and keynesian. hope this helps
    It does help, and I did do a lot of the things you mentioned, but in the mark scheme it says "IB claimants" everywhere, and really doesn't mention my policies as much. Why is it talking about IB claimants so much?
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    IB claimants are people claiming Incapacity benefits, thus can't work. If government reduce the guidelines for IB claimants so less people can claim; we gain extra labour, government have to pay out less benefits and due to these people now working they also gain extra tax.
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    (Original post by MattMaas)
    IB claimants are people claiming Incapacity benefits, thus can't work. If government reduce the guidelines for IB claimants so less people can claim; we gain extra labour, government have to pay out less benefits and due to these people now working they also gain extra tax.
    Most of the points i've made about labour policies have nothing to do with IB claimants, would I still get marks for my points?
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    If you matched your labour policies with 3 macro-economic objectives then yeah you will , the markers use their discretion as to what to give and not give marks too.
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    (Original post by MattMaas)
    If you matched your labour policies with 3 macro-economic objectives then yeah you will , the markers use their discretion as to what to give and not give marks too.
    alright thank you.

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