Question spotting for F585 Economics The Global Economy OCR A level June 2011

for the last question i talked about prebish singer hypothesis, but economic growth is not a sufficient ingredient for economic development. Talked about MNC creating employment, pollution and a depletion of natural resources, however provide training and education through tax revenue. FDI is short term. Talked about cash cropping and export-led growth

the exam was okay, last question threw me off slightly

for Spain's improving international competitiveness, i said they can use SSP's-Increase in human capital reduction in unit labour costs and mentioned fiscal policy no use due to being short term can cause demand-pull inflation

for implications of anticompetitive

said that it would create unemployment, cant really remember what i said

i put cut in corporation tax to give incentives for firms to invest however it can lead to governments losing revenue and thus having to borrow more and if they borrow more and cant pay it back banks/ countries will stop lending and thus business confidence will be low as firms wont invest in countries banks are lending to

then i talked about supply side being better i mentioned they are also limited to fiscal stimulus due to growth pack.

for the last question i talked about prebish singer hypothesis, but economic growth is not a sufficient ingredient for economic development. Talked about MNC creating employment, pollution and a depletion of natural resources, however provide training and education through tax revenue. FDI is short term. Talked about cash cropping and export-led growth

the exam was okay, last question threw me off slightly

for Spain's improving international competitiveness, i said they can use SSP's-Increase in human capital reduction in unit labour costs and mentioned fiscal policy no use due to being short term can cause demand-pull inflation

for implications of anticompetitive

said that it would create unemployment, cant really remember what i said

is anything right?

Did anyone think that it felt more like an AS paper? I think that grade boundaries are going to be very high...

Anyone talk about the rostow, lewis and harod-domar development theories for the last question?

Did anyone think that it felt more like an AS paper? I think that grade boundaries are going to be very high...

for the ireland growth question did anybody else just find themselves focusing on inflation for the majority of the answer?

and i derp'd trying to find 4 marks worth of answer to explain the economic cycle and short/long term growth

and for the last question what is the difference between economic growth and development? i mostly just mentioned growth

Did anyone think that it felt more like an AS paper? I think that grade boundaries are going to be very high...

Don't let the question on defining short-run and long-run growth throw you. They want a lot for the marks available (gone are the days of two line definition questions). I think they'll want us to put a lot of emphasis on stuff that wasn't huge at AS like exchange rates or actual current affairs.

I see what you mean though. However, I know a lot of people came out of that dissatisfied, so hopefully the boundaries will be low.

It's not just that question. IMO, all of the questions were incredibly straightforward and I could tell where you were supposed to gain marks. Looking at past papers/mark schemes, this was not very hard in terms of what you had to say to get marks.

I could be completely wrong, though, and could end up getting a D or something.

So writing about how revenue for Govts in developing countries can help education/health care thus improving the development aspect was right? And also saying how economic growth (GDP^) doesn't mean literacy levels or life expectancy won't improve greatly too.

Precisely, yeah. Then obviously your evaluation would be to do with whether or not the government actually puts the revenue into these things or whether they use it unwisely (e.g. for military spending or illustrious homes for the country's leader).

And for your second part: Yes that's right. If you imagine a country where the GDP goes up because one single guy somehow manages to boost the entire economy size (e.g. if he alone exported trillions of dollars worth of goods) then obviously that won't help the country because most of the wealth would be his. Therefore, it's important to consider distribution and exactly what happens because of the GDP^.