AQA Economics 25th May 2012 Unit 2 Exam

Which question did you have to do the structural definition for the first one or the second one.

Yeah sounds about right to me. When I read it I could hardly believe it was worth 12 marks. The mark scheme is incredibly lenient as well, you could get away with just talking about the exports.

easy is subjective, if i found it very easy then I found it very easy. You can't prove me wrong and you are maknig yourself look like an idiot.

maybe you would have found it easier if you had revised more

It was how decreasing the budget defecit effected unemployment, so argue that decreasing it would raise unemployment?

That was section B question 1

Me either :L unbelievably brilliant question .. How did you do in the 25 mark do you think ?

For unit 1 and unit 2 probably like 114 I am thinking now. I was thinking it would be lower early but to be honest this paper was comparatively easy. Unit 1 was average/slightly harder than normal.

Nope never found anything easy.
Probably.
Exactly.
Still not a large enough sample size.
Approximately 8300 people probably sat the exam.

Yeah I defined a fall in the currency and something else, cant remember. Drew diagram shifting AD to the right. Then explained using AD equation and how a depreciation would lead to exports being cheap and thus more competitive and imports being dearer. hence AD becomes larger.

or something of the sort

If I didn't talk about AD = C+I+G+(X-M) but I talked about AD rising and this causing demand pull inflation. How will this affect my mark?

If I didn't talk about AD = C+I+G+(X-M) but I talked about AD rising and this causing demand pull inflation. How will this affect my mark?

114 for unit 1 & unit 2 to get an A? Do you have any idea for B and C?

Surely it is C?

Couldn't have been a better question to be honest. I knew that unemployment would come up but I didn't like the wording of the question. I just did the standard stuff like positives/negatives of interest rate changes in the long/short run, paragraph on contractionary fiscal policy/supply side policy. Managed to fit a decent amount of analysis and evaluation in, I think I did a pretty decent conclusion.
Pessimistically hoping for high level 4 (20-21)
You?

Yeah i agree isn't the answer C? increasing interest rates wouldn't it shift to the left???

If you're this stubborn/dim there's no point talking to you.
I said it was my personal expectation - I don't require any sample size for that, though I formed mine based on the opinions of my peers.

By the way, the definition of 'easy' is "possible to accomplish with few difficulties". Nothing to do with "hundred percent or you're lying".

Did you do that question?

Yeah same sort of thing ... in basic terms i did something like this
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Intro: Definitions etc

1st point .. interest rates effect on demand side .. i.e increase = less AD abd decrease = more AD .. diagrams and all that
then evaluated so stated that its not the only component in increasing AD like the fact that although interst rates are 0.5% atm we are not seeing a rise in AD instead a double did recession therefore not effective

second point .. interest effect on supply side (cost push inflation) and effect on investment so an increase in investment leads to a shift in the LRAS curve reducing inflation ..
then evaluated and stated that although interest rates do effect the level of investment the keynesian theory of investment states that investment will not rise because confidence is low etc .. therefore no shift in LRAS curve

then said that the best way to control inflation was through the use of supply side policies, examples, why ..

conclusion: Answer the question
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my analysis was good and i evaluated each point to the extent that i possibly could :L so it should be fine .. same really although im hoping for a bit higher ..about 23 would suit

yeah i looked at the unemployment question and thought okay thats not bad, then saw the inflation questions and automatically made my decision :L

No I did question 2, went into the exam hoping for unemployment to come up but got put off by the 25 marker on that question so went for inflation :P they were both pretty similar though, spent 5 minutes deciding which one to do :O