AQA A Level Economics Paper 2 7136/2 - 6 Jun 2022 [Exam Chat]

Anyone do context 1? What did you get for the index number? I didn’t know how to do it but I got something like 114.5. I did 286.3-250/250 x 100 and then added a hundred, something like that anyway. Dk if it’s right or not.

Since it said difference between UK and Argentina, I got -3.45% or somewhere around that.

What did u say for the 25 marker

What did everyone put for the context 2 25 and 9 marker?

I forgot to link the tariff 9 marker to AD which is a bit stupid of me. Hugh

what did evryone talk about for context 3 25marker

Did anybody do context 2?

What did you guys get for the 9 marker? I went for a decrease in AD because reduced tariffs on imports makes them cheaper so increased demand which widens the current account deficit which decreases AD and caused price levels to drop, in the extract it mentioned lower inflation results in lower growth and employment so I assumed it was demand side deflation.

And what did you all conclude for the data response 25 marker? I said target long run growth to improve all 4 objectives.

And I also did essay 2, did anybody else?

i accidentally put a positive output gap means deflation lmaooo i drew the diagram wrong so the price was lower (for the 15 mark) has anyone ever missed/done a question wrong and ended up getting a good grade? i need reassurance lol

For context 3 the 15 marker what did u interpret the “value of exports “ as lots of ppl are saying alot of different things

OMG i did the exact same thing

Same i put changes in the UK’s pattern of trade, i swear that is the definition of value of exports

For the 9 marker, I began with a definition of inflation and also tariffs. I then drew an AD AS diagram and shifted AD to the left, because tariffs are essentially taxes, reducing them makes imports cheaper thus demand is greater so the (X-M) value decreases and there is a widening of the current account deficit which decreases AD and thus results in lower price levels.

A few people I know however went for the SRAS shift to the right due to lower costs of production, so I’m unsure which one is right - both seem correct?

And for the 25 marker, I did the cons of inflation such as asset price bubbles, fall in real disposable incomes and uncertainty. Then how strong growth might be more desirable because of material standards of living and international competitiveness and development, and then also unemployment and how high unemployment can have the hysteresis effect and also result in govs having to spend more on welfare benefits and areas affected. My judgement I’m unsure, I said target long run growth to improve all 4 objectives.

How did you link the 25 marker points to the extract?