Economics Unit 2 prediction for 17th may 2013 :)

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Reply 300

Brandon_RNS

Original post by harveyw96

I got 277.75 for the index number as i did it a different way, will i still get the marks?

I rounded it up

Reply 301

sh7171

Original post by jamiee207

Wait? Is this the first part of Q2!? It asked to explain the process of CPI calculation didn't it??

Yeah that was the first question but then the second one asked something about why CPI had changed didn't it?

Reply 302

S.ahmed

Question 1
2 costs of a budget deficit on UK econmy
Rise in oil prices affect the economy
fall in value of sterling's exchange rate on balance of payments

CAN YOU TELL ME WHAT YOU WROTE?

Reply 303

Brandon_RNS

Original post by S.ahmed

Question 1
2 costs of a budget deficit on UK econmy
Rise in oil prices affect the economy
fall in value of sterling's exchange rate on balance of payments

CAN YOU TELL ME WHAT YOU WROTE?

Deficit means money leaving country and could lead to credit crunch

rise in oil leades to up in cost of production cost pish inflation

fall in sterling ups exports downs imports and then evaluation was that imports rode because they could not be replaced

Reply 304

xstarsx67

What'd you guys think the grade boundaries will be like? I'm pretty sure I already lost 10+ marks :'(

Reply 305

sh7171

Original post by jamiee207

Wait? Is this the first part of Q2!? It asked to explain the process of CPI calculation didn't it??

What did you write about inflation being under 2%?

Reply 306

Brandon_RNS

Original post by xstarsx67

What'd you guys think the grade boundaries will be like? I'm pretty sure I already lost 10+ marks :'(

Fairly high most people did qns 2 which was easier in my opinion. Just the way the questions were worded made me do question 1

Reply 307

ljh950912

Original post by Brandon_RNS

Fairly high most people did qns 2 which was easier in my opinion. Just the way the questions were worded made me do question 1

Im pretty sure some people could muck up the 30 marker tho. It clearly wasn't an easy 30 marker

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Reply 308

shabba-ranks

Original post by ljh950912

Im pretty sure some people could muck up the 30 marker tho. It clearly wasn't an easy 30 marker

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Yes the boundaries will not be that high, people doing question 1 may get a bonus in ums since alot of people struggled on it

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Reply 309

xstarsx67

Original post by shabba-ranks

Yes the boundaries will not be that high, people doing question 1 may get a bonus in ums since alot of people struggled on it

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Really? Can that actually happen? Like people can get bonus ums?

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Reply 310

Brandon_RNS

Original post by ljh950912

Im pretty sure some people could muck up the 30 marker tho. It clearly wasn't an easy 30 marker

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Wasnt it something like evaluate the effect of a reduction in the fiscal deficit on the macro economic objectives?

well first ad/as for your 4 marks
state all 3 objectives for 3 or 6 i cant remenber a past mark scheme with similar question
and bascially talk about confidence levels down investment down consumption, imports will fall which will improve the balance o payments

trust me it was a nice question

Reply 311

Brandon_RNS

Was it only me that didnt use extract 2 in the whole exam?

Reply 312

Thriveti

For the oil price question could you draw an ad/as diagram with the Ad curve shifted left? I put this because the increased price will reduce consumer confidence, therefore reduced consumption and investment (due to accelorator effect) is this correct?

Reply 313

shabba-ranks

Original post by xstarsx67

Really? Can that actually happen? Like people can get bonus ums?

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Yeah it happens across all subjects. If the exam board see that way more people have been successful on question 2, they will either mark more stiffly there and/or the value of raw marks coverted to ums in question 1 will be increased. Basically they will mark more leniently. They have to do this so that they get a spread of grades.

So don't give up hope people that answered q1!

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Reply 314

Soufflegirl

Original post by xstarsx67

You know if you got the answer to the index one wrong? (Like I put 177 instead of 277) don't ask me how I'm just really stupid :frown:

would you still get like maybe 1 or 2 marks? Cos it was a 6 mark question, so surely they should credit something even if it was wrong? Or no?

I got that too. :frown:

I defined base year at the beginning and maybe we'll get marks for the correct values for Jan 2005 and March 2012. Here's hoping!

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Reply 315

Brandon_RNS

Original post by Thriveti

Oil prices dont affect ad it affects as. Brent crude oil is not bought by consumners but by business it is a cost of production if this increase it will reduce the supply

Reply 316

shabba-ranks

Original post by Thriveti

I shifted the AS curve inwards for that question

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(edited 10 years ago)

Reply 317

sh7171

Original post by Brandon_RNS

What did you put for inflation being under 2%? And then for the second question I think it was, about why CPI had changed?

Reply 318

Soufflegirl

I'm praying my unit one will make up for lost marks in this one. :frown:

I did question 1, the 30 marker was easier. Some of the questions in the second one looked horrible.

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