F581/ F582 Economics June 2013

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Original post by Dezza1994

do i get marks if i put 4.8 and 45 ?

I was going to put that at first, yeah I'm sure they would, as long as you put the currency in front of it and 'bn' at the end of it.

Reply 481

LaurenceWylie

I just looked at the actual figures of gdp/capita for the two countries, and the correct answers were infact 4,800 & 45,000 (or there abouts)

Source: http://www.globalpropertyguide.com/Asia/Japan/gdp-per-capita

Reply 482

Nerd2

Original post by lisa96

Since wages are one of firm's cost of production so as wages were rising, so would cost-push inflation as agg supply would shift to the left

oh yes of course! :banghead:

Reply 483

026neesh

What did everyone put for the reasons why consumer spending was low??

I put:
-low confidence
-high interest rates
-high income taxes

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Reply 484

May-o2q

Original post by manchesterunited15

The first question, leakages: savings, taxes, spending in the informal economy (ie drugs) 3 marks? what did everyone put?

I put saving, taxes and spending on imports

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Reply 485

Nerd2

Original post by 026neesh

What did everyone put for the reasons why consumer spending was low??

I put:
-low confidence
-high interest rates
-high income taxes

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I put:
low consumer confidence
high rate of interest
low level of real disposable income
I don't want to worry you, but it doesn't mention high income tax as influence on consumer expenditure in the OCR book, but I'm sure its right anyway though :smile:

Reply 486

May-o2q

Original post by lisa96

I need to start revising for the F581 resit now. Is anyone else doing it?

I am and it's on the same day as my s1 exam.

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Reply 487

LaurenceWylie

Original post by 026neesh

What did everyone put for the reasons why consumer spending was low??

I put:
-low confidence
-high interest rates
-high income taxes

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I said:
- high interest rates
- low disposeable income
- expectations of future events

Reply 488

Aardvark1998

Original post by 026neesh

What did everyone put for the reasons why consumer spending was low??

I put:
-low confidence
-high interest rates
-high income taxes

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I didn't relate it to the case study at all.

I got:
- Low consumer confidence
- High interest rates
- Unemployment

Thinking about it, unemployment and low consumer confidence were too similar to use together. Oh well.

Reply 489

May-o2q

Guys do u remember all the calculation u did for investment? I feel like I got different answer. Cus 35% of real GDP = something they mentioned, so we need to calculation the AD first then 40% of it, right? Or what I wrote is incorrect?

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Reply 490

heirloom

Original post by May-o2q

China's GDP x 0.4

Reply 491

LaurenceWylie

Original post by May-o2q

35% was the percentage of GDP made up by consumption; the 40% was the percentage of the GDP made up by investment, which is what it was asking for.

Reply 492

May-o2q

Original post by LaurenceWylie

35% was the percentage of GDP made up by consumption; the 40% was the percentage of the GDP made up by investment, which is what it was asking for.

I got this question wrong then :frown:

(

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Reply 493

May-o2q

Do u know how many marks for it? :frown:

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Reply 494

Nerd2

Original post by May-o2q

Investment was 40% they mentioned, so wasn't it just 40% of the real GDP?

Reply 495

LouiseWorsdalex

Original post by lisa96

I need to start revising for the F581 resit now. Is anyone else doing it?

I'll be doing the resit!

Any idea as to what will come up? :confused:

Reply 496

bad8oy

Original post by Nerd2

high income tax is one mark then leads to low levels of real disposable income meaning less money to spend is probably second mark

Reply 497

LouiseWorsdalex

Original post by bad_moose

The main paper was fine (bar the first question which I struggled with) but the last question totally kicked my arse, had a complete mental block and forgot what economics even meant. Very angry with myself.

I did exactly the same, the 18 mark question was a bummer, really upset now :banghead:

Reply 498

May-o2q

Original post by Nerd2

Investment was 40% they mentioned, so wasn't it just 40% of the real GDP?

I'm really not sure, cus I was thinking about the Investment in AD component.

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Reply 499

christanmu

Are you sure the 3 questions on why consumer spending was low had to be related? I'm sure I read the question and they weren't? (hopefully :|)

I got high interest rates, low real disposable income and high indirect taxes such as VAT, so if they had to relate I already know I've dropped a mark :|

for Q1 the three leakages are taxes, imports and savings as someone above said..
And for the investment question, the answer was 40% or somewhere around like 2500 billion, though I think they wanted the figure, as simply 40% is a pretty easy 2 marker..

Also, what did people put for the 18 marker, the wording threw me for a while..!?