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Economics Unit 2 prediction for 17th may 2013 :)

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Original post by EyesWideShut
Can someone please tell me if this makes sense...


Although in the short-run an expansionary fiscal policy will stimulate AD, in the long-run the government will raise taxes in order to pay back the national debts that it incurred whilst running a budget deficit. Therefore, living standards could fall in the long-run.



expansionary fiscal policy is reducing taxes and increasing government expenditure so this whole thing is incorrect? taxes wont be raised if its expansionary
Reply 261
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kurdabora
Original post by mariahfresi
expansionary fiscal policy is reducing taxes and increasing government expenditure so this whole thing is incorrect? taxes wont be raised if its expansionary


I think that's a evaluation point I.e in the short run it will increase ad due to gov spending but in the long run the uk gov runs a bigger deficit which It may need to increase taxes in the future...


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Original post by kurdabora
For as/ad graph I put price level and real GDP but mark scheme show output level is it wrong to put real gdp


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Remember the national income identity

O=Y=E

You can put expenditure instead of output. They all mean the same thing.


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Original post by mariahfresi
it wont be on anything to do with monetary or fiscal policy, that was in the 2013 jan paper so most likely BOP or inflation


Don't think it works like that. In Jan 2011 they almost sent identical question to June 2010


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Original post by mariahfresi
expansionary fiscal policy is reducing taxes and increasing government expenditure so this whole thing is incorrect? taxes wont be raised if its expansionary


lol I forgot to mention that it's an evaluative point. I meant in the SR they will reduce taxes/increase Gov't spending but in the LR use a contractionary fiscal policy..

Original post by kurdabora
I think that's a evaluation point I.e in the short run it will increase ad due to gov spending but in the long run the uk gov runs a bigger deficit which It may need to increase taxes in the future...


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Yes, it was an evaluative point :smile:
(edited 10 years ago)
Reply 265
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ljh950912
What are two problems with current account deficit?


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Original post by ljh950912
What are two problems with current account deficit?


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Reduced international competitiveness due to increased imports and low exports
Low employment as AD for exports has decreased
Anyone has any prediction on what's this years 30m essay? God I'm having exam in 2hours ,,, so stressful


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Reply 268
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Mesutozil
Original post by Jack_Smith
lool are you resitting this again too?
Thank you and yes I know to go for the policy questions now! Thanks for the advice :smile:


yeah, i got 78. raw mark of 64 which is usually an A!
Reply 269
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LulaBelle
How do you solve the bop deficit?


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Original post by LulaBelle
How do you solve the bop deficit?


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By improving competitiveness- be it through subsidies or higher interest rates (increasing hot money flows)

Also, depreciating the currency
(edited 10 years ago)
Reply 271
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dan5
2
Hi,

Does any know how many evaluation marks there are for each question (8, 12, 18 and 30).
Original post by LulaBelle
How do you solve the bop deficit?


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A fall in the pound against another currency (say dollars) means that the pound is weak so imports decrease, but goods are now cheaper to buy from us (as the other currency is worth more) and so exports increase.
Original post by dan5
Hi,

Does any know how many evaluation marks there are for each question (8, 12, 18 and 30).

for 6 markers with the key words there is normally 2
12 markers there's normally 4
30 markers there's normally 12.

There isn't 18 markers in edexcel unit 2
Reply 274
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dan5
2
Original post by Paddyspower
for 6 markers with the key words there is normally 2
12 markers there's normally 4
30 markers there's normally 12.

There isn't 18 markers in edexcel unit 2


Ah alright, I'm probably getting that mixed up with something else. Thanks.
Original post by dan5
Ah alright, I'm probably getting that mixed up with something else. Thanks.

Maybe you're thinking when you say 18 marks that in the 30 markers they're split into 18 and 12?:smile:
A person has an intial wealth of W = £144 (W denotes Wealth) and the following utility function, U(W) = W 0.5. There is the opportunity to make an investment that will yield a return of £42 or make a loss of £42, which with a probability of 1/2. By calculating this persons expected utility when the investment is made and when it is not made, determine whether this person should make the investment.
Reply 277
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tobywalsh
Asses how recent austerity measures by the government can interfere with Macro-Economic Objects of the UK? (30)

Given the UK's Credit Rating was downgraded to AA1, to what extent will an ever increasing national debt further damage the UK's Credit Rating? (30)
Omfg I had the aqa paper...was it just me or was that extremely hard??? I thought he multiple choice was extremely hard and context 1 12marker really hard :frown:
Is there a separate thread for the AQA? I though the multiple choice was really difficult to be honest


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