F581/ F582 Economics June 2013

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Reply 500

chelseafan

Original post by Nerd2

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

Yes it was simply just 40% of real GDP. That's what you had to calculate.

Reply 501

May-o2q

Original post by chelseafan

Yes it was simply just 40% of real GDP. That's what you had to calculate.

Do u remember the mark for that question?

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Reply 502

Nerd2

Original post by May-o2q

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

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I'm sure it was just to find 40% of the real GDP figure they gave, that's what me and few others did. You can't have been expected to work out the AD, because then you would need the figures for consumer expenditure, government spending, exports and imports, which they didn't give you.

Reply 503

Nerd2

Original post by May-o2q

Do u remember the mark for that question?

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2marks most likely. 1mark for the working out and another for the correct answer.

Reply 504

Nerd2

Is anyone doing Transport Economics?? Is there already a thread for it?

Reply 505

May-o2q

Original post by Nerd2

2marks most likely. 1mark for the working out and another for the correct answer.

Ok, thx for telling. I waste out my 2marks then. :frown:

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Reply 506

christanmu

Original post by May-o2q

Do u remember the mark for that question?

It was 2 marks, one for working out one for answer..

edit: @nerd2 - snap

Reply 507

Nerd2

Original post by christanmu

It was 2 marks, one for working out one for answer..

edit: @nerd2 - snap

Reply 508

christanmu

My teacher and I both think that there will be a 6/8 marker on demerit goods as they can keep it topical with alcohol minimum pricing..

Reply 509

iggyDash

Original post by Nerd2

Is anyone doing Transport Economics?? Is there already a thread for it?

Yes i am and i dont know

Reply 510

M.I.A

In my opinion the 18 marker was just horrible!!! Apart from that and question 1(b) everything else was ok....

Reply 511

christanmu

Original post by M.I.A

In my opinion the 18 marker was just horrible!!! Apart from that and question 1(b) everything else was ok....

1b threw me at the start as well, you get around it in the end? It basically wanted to know injections where higher than leakages and you could use knowledge and put in about China being a major exporter also - says my teacher.

the 18 was a pain to get your head around also - how did you answer it?

Reply 512

M.I.A

Original post by christanmu

1b had me thinking for like 5-10mins! However, in the end I did get. As for the 18 marker.... the definitions were easy (L1 achieved), linking back to the case study (L2 acheived) and then my mind went blank! Brain just stopped functioning...

Reply 513

christanmu

Original post by M.I.A

ah nightmare, yeah i drilled through the definitions, then got a diagram involved and annotated that baby, then wrote some waffle for l3 and then just put like 30 minutes of level 4 into it! ah well, we'll see how we did in a few months anyway!

Reply 514

Nerd2

Original post by iggyDash

Yes i am and i dont know

Great to hear. I will have a look if there is a thread, if not, then I'll make one.

Reply 515

M.I.A

Original post by christanmu

What diagrams did you include??? I included how exchange rates are determined using an S/D graph and also included an AS/AD curve with a reduction in AD.

Reply 516

chelseafan

Original post by M.I.A

What diagrams did you include??? I included how exchange rates are determined using an S/D graph and also included an AS/AD curve with a reduction in AD.

Yeah i used those.

Reply 517

meganhaynes1

how many level 4 evaluative points did everyone put ??? i put like 4 or 5

Reply 518

christanmu

Original post by M.I.A

What diagrams did you include??? I included how exchange rates are determined using an S/D graph and also included an AS/AD curve with a reduction in AD.

I used an AS/AD Curve showing the obvious reduction in AD but also an increase in AS which was allowed if you described it - as firms can increase AS as cost of production goes down as they can maximise on the strong currency to buy cheap raw products from abroad.

Original post by meganhaynes1

how many level 4 evaluative points did everyone put ??? i put like 4 or 5

Yeah I put 5 in too!

Reply 519

Dilsz

The essay was just the cherry on top. So easy. I did 5 L4 Points (Quality competitiveness, Time lags, Change in foreign income abroad, Initial economic placement and size of change of the appreciation in exchange rates). For the essay you should have defined INFLATION RATE because the paper already asked you to define inflation. Inflation rate is an sustained/continuous rise in price level EXPRESSED AS A PERCENTAGE. And for the inflation definition I guarantee most people forgot to put over a given time period for the second mark. And you should have defined exchange rate as the price of once currency in terms of another or basket of other currencies. For the conclusion of the essay I wrote how expansionary/reflationary fiscal policy would be most effective in terms of reducing the inflation rate as well as tackling unemployment. That's your 17/18 mark

Diagram should have been AD shifting to the left as our exports are more price competitive so there will be less demand thus resulting in net exports, a component of aggregate demand, to decrease reducing inflationary pressure and lowering the rate of inflation for L2

Grade boundaries I'm guessing 47/48 for A

(edited 10 years ago)