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Original post by Husnain Ali
Can you help me with them , please ??
Sure, what do you need to know?
does anyone have any OCR revision notes on:
-Macroeconomic Performance
-Trade and Integration
-Development and sustainability
PLS, these are the only notes that for me are missing, anything will be much appreciated
-Macroeconomic Performance
-Trade and Integration
-Development and sustainability
PLS, these are the only notes that for me are missing, anything will be much appreciated
As government intervention vs market forces discussion is a common exam question, what do you think the main arguments are?
For Govt intervention
- if markets are left to their own there may be misallocation of resources
- market may produce negative externalities as they do not consider the external costs ie there will be a market failure
- they have available tools to correct the market ie encourage firms to produce more merit goods through subsidies
For Market forces
- if the government were to intervene, it will most likely result in government failure
- markets operate better on their own through the price mechanism (rationing, signalling and incentives)
- may distort efficiencies of firms
That is all I can think of atm. Is there anything else or?
For Govt intervention
- if markets are left to their own there may be misallocation of resources
- market may produce negative externalities as they do not consider the external costs ie there will be a market failure
- they have available tools to correct the market ie encourage firms to produce more merit goods through subsidies
For Market forces
- if the government were to intervene, it will most likely result in government failure
- markets operate better on their own through the price mechanism (rationing, signalling and incentives)
- may distort efficiencies of firms
That is all I can think of atm. Is there anything else or?
What causes a shift of the supply of a currency to the left? e.g. the quantity of dollars supplied shifts to the left and this appreciates its value in relation to the pound.
(edited 8 years ago)
can I know whether A2 economics is hard to get an A pass......and also I want to know whether there are maths parts later in economics.....
(edited 8 years ago)
Hi, I want to take Edexcel GCE Business Studies/Economics and Business. I what the text books from edexcel. However I found Units 1 and 3 but not Unit 2a,2b,4a and 4b. Please can you help me out.
I've got the following problem in my macroeconomics 2 paper:
Consider the following simple Keynesian diagonal cross model: consumption is given by C = 100 + 0.75(1 - t)Y where t is the constant income tax rate, Y is national income, investment (I) is exogenously equal to 100, and government spending is exogenously given and equal to 200. Calculate the appropriate rate of income tax to balance the budget.
The way I see it, the way to solve this is to go to the balanced budget formula T - G = 0, substitute T with tY since it's an income tax and G with 200 since it's exogenously given, so tY = 200, and t = 200/Y.
Then I go substitute t in the equilibrium output formula Y = C + I + G, hence:
Y = 100 + 0.75(1 - 200/Y)Y + 100 + 200,
and when I solve this I get Y = 1000, and therefore t = 200/1000 = 0.2, 20%
I'd be glad if some macro geek would confirm this is correct. Thanks
Consider the following simple Keynesian diagonal cross model: consumption is given by C = 100 + 0.75(1 - t)Y where t is the constant income tax rate, Y is national income, investment (I) is exogenously equal to 100, and government spending is exogenously given and equal to 200. Calculate the appropriate rate of income tax to balance the budget.
The way I see it, the way to solve this is to go to the balanced budget formula T - G = 0, substitute T with tY since it's an income tax and G with 200 since it's exogenously given, so tY = 200, and t = 200/Y.
Then I go substitute t in the equilibrium output formula Y = C + I + G, hence:
Y = 100 + 0.75(1 - 200/Y)Y + 100 + 200,
and when I solve this I get Y = 1000, and therefore t = 200/1000 = 0.2, 20%
I'd be glad if some macro geek would confirm this is correct. Thanks
Original post by an drej
I've got the following problem in my macroeconomics 2 paper:
Consider the following simple Keynesian diagonal cross model: consumption is given by C = 100 + 0.75(1 - t)Y where t is the constant income tax rate, Y is national income, investment (I) is exogenously equal to 100, and government spending is exogenously given and equal to 200. Calculate the appropriate rate of income tax to balance the budget.
The way I see it, the way to solve this is to go to the balanced budget formula T - G = 0, substitute T with tY since it's an income tax and G with 200 since it's exogenously given, so tY = 200, and t = 200/Y.
Then I go substitute t in the equilibrium output formula Y = C + I + G, hence:
Y = 100 + 0.75(1 - 200/Y)Y + 100 + 200,
and when I solve this I get Y = 1000, and therefore t = 200/1000 = 0.2, 20%
I'd be glad if some macro geek would confirm this is correct. Thanks
Consider the following simple Keynesian diagonal cross model: consumption is given by C = 100 + 0.75(1 - t)Y where t is the constant income tax rate, Y is national income, investment (I) is exogenously equal to 100, and government spending is exogenously given and equal to 200. Calculate the appropriate rate of income tax to balance the budget.
The way I see it, the way to solve this is to go to the balanced budget formula T - G = 0, substitute T with tY since it's an income tax and G with 200 since it's exogenously given, so tY = 200, and t = 200/Y.
Then I go substitute t in the equilibrium output formula Y = C + I + G, hence:
Y = 100 + 0.75(1 - 200/Y)Y + 100 + 200,
and when I solve this I get Y = 1000, and therefore t = 200/1000 = 0.2, 20%
I'd be glad if some macro geek would confirm this is correct. Thanks
Looks fine to me:
Given t = 0.2: T = tY = 0.2Y;
Given G = T and G = 200: 200 = 0.2Y, Y = 1000;
Sub back into C: C = 100 + 0.75(1 - t)Y: C = 100 + 0.75(0.8)1000 = 100 + 600 = 700;
Sub back into Y: Y = C + I + G = 700 + 100 + 200 = 1000.
I recently read something about the effects of holding large foreign currency reserves (like China currently does), although it didn't make too much sense to me and I was wondering if anyone could clarify: what are the economic effects of large Forex reserves, especially in something like the Bretton Woods system?
Hello everyone!
My question is: In production possibility inverted curve graph, it is depicted that the opportunity cost for the production of next good continies to decrease as it's production increases. SO, which factors detemine the decrease in its opportunity cost of the good in produce. Why does it decrease? And, its depreciation obviously determines that it is not a profitable iem produced in bulk, is it?
Please answer, test's tomorrow.
My question is: In production possibility inverted curve graph, it is depicted that the opportunity cost for the production of next good continies to decrease as it's production increases. SO, which factors detemine the decrease in its opportunity cost of the good in produce. Why does it decrease? And, its depreciation obviously determines that it is not a profitable iem produced in bulk, is it?
Please answer, test's tomorrow.
HW Help
Engineering Economy (nominal and effective interest rates)
1) How many years will be required for an investment of $300 000 to increase to $ 400 000 at an interest of 10% per year compounded every 6 months
2) What rate of interest compounded quarterly is involved if an investment of $15 000 made now will result 10 years, hence in a receipt of $ 28600
Thanks!
Engineering Economy (nominal and effective interest rates)
1) How many years will be required for an investment of $300 000 to increase to $ 400 000 at an interest of 10% per year compounded every 6 months
2) What rate of interest compounded quarterly is involved if an investment of $15 000 made now will result 10 years, hence in a receipt of $ 28600
Thanks!
(edited 8 years ago)
I was wondering if anyone could help. I'm 17 and have just started year 12 (my AS year). Although its a little hazy, I know I want to study economics at university and my school have asked me to join a group of people from my year that they want to put forward for Oxbridge. I was thrilled but I have to prepare a presentation on economics to show infront of senior heads of school, to test whether I have the nerve for oxbridge interviews etc. However I cannot think of what to present on. They want me to focus on a part of economics and delve deep into it, making links with other subjects and ideas etc to show off my knowledge. I was maybe thinking of talking about how economics affects our everyday life or how it makes the world go round but If anyone could think of a current but in depth economics subject/issue to talk about, please let me know! Thank you
Original post by elliotcyriax
I was wondering if anyone could help. I'm 17 and have just started year 12 (my AS year). Although its a little hazy, I know I want to study economics at university and my school have asked me to join a group of people from my year that they want to put forward for Oxbridge. I was thrilled but I have to prepare a presentation on economics to show infront of senior heads of school, to test whether I have the nerve for oxbridge interviews etc. However I cannot think of what to present on. They want me to focus on a part of economics and delve deep into it, making links with other subjects and ideas etc to show off my knowledge. I was maybe thinking of talking about how economics affects our everyday life or how it makes the world go round but If anyone could think of a current but in depth economics subject/issue to talk about, please let me know! Thank you
Brother! I'm very happy at this great opportunity you're having and I'm sure myself that you'll win it. Listen, I believe in one thing," Keep t simple and keep it smart". Do not worry yourself with the deep economic ideas. I hope its your first time learning economics and the students competing with you are no better than you. So, before reading you whole post, the first thing that came into my mind was to explain economics in your presentation. So, I suggest you o explain economics in a way no one has done it before . Research on the whole field, what other areas it surrounds, tell how is it related to pshcology of mind, and if an economist understands that, how can he esily develop the economy of his country. Go to Karl Marx and Adam Smith ideas, how they derived the fundamental concepts of economics from the daily human nature. Just, explain it in a way that it creats interest in them, it attracts the. Listen they do have standards for selection, but, there's something called convincing, you need to convince them. Adopt this way, rather I would say, go and describe the ecomical behavior of people related to their psychology. Go searcch on the internet how greatest economists of all time use psychology as a weapon to relieve their nation in desperate need. There still are certain amazing examples. I'll give you one. Like, in Newyork, there's a subway station in which many complaints were filed in for the late arrival of trains by their recievers. You know, instead of buying highly advanced engines for making new trains from Japan that may have costed billions of dollars, the economists gave a very simple advice. He observed that there was no wall clock in the subway station. So, they put up a huge wall clock over there. What happened is, the complaints started to diminish and finally they ended. How? When you do not know the time left in the arrival of train and you're waiting for someone, that waitting seems very long. It may prove stingy after mere 8 min. But, if there's a wall clock that is actually telling you time, if it remains even a half hour, you won't regret it. ANd, the complaints finally ended because then they put up timers for each and every train arrival mentioned with their deporting place. Now, it became much easier to wait. So, it not even saved money but composed the masses. The point is, psychology is the key to work in economics field. When you'll search, you will find each and every concept of economics related to the mentality of people. So, give your presentation a best shot. As I say, "Always keep it simple but smart". I am damn sure they'll be impressed. And, unfortunately, if you didn't get in, so what? You're still in AS. You'll find the opportunity like every other normal kid after A2. So, best of luck !!!
Hi guys, Iwas wondering whether these are relevant examples of government intervention inhealthcare. Please give me feedback on how to improve these in the context ofeconomics and please tell me if I am doing from what examiners may consider asmere observations than interpretations of economics theories.Thanks inadvance!>direct subsidizationof healthcare, especially expensive and long-running treatments such as chemotherapyfor cancer patients. Anotherform of direct subsidization would be building more health facilities to accommodatethe ever-shortage and excessive demand of beds in the NHS.>Indirectsubsidization by encouraging people to join medical fields by offering greaterincentives (maximum wage raise for doctors in the public sector or simply byallocating more budget into scholarships for programs that are going to improvehealthcare, thus, raising social benefit in the long run.)>settingprice ceilings and government watchdogs in private healthcare industries, asprivate healthcare is notorious for exploiting patients due to asymmetricinformation>attractingdoctors, nurses and healthcare officials from foreign nations such as Ghana andIndia to work in the NHS by providing them better incentives or facilitiesunavailable to them in their home countries. This increases medical workforceand reduces the workload of the currently stressed out NHS. This would raise laborproductivity.For example,emphasizing on the better standard of living of UK to lure a doctor or reducingimmigration barriers for doctors.>Imposinga higher taxes on demerit goods that cause need for healthcare in the future(cigarettes and alcohol). This tax revenue may be used to fund healthcaresubsidies.>collaboratingmore frequently with foreign healthcare systems to share new innovation,knowledge and techniques to raise social benefits in the long run. Let’s faceit, one single country doesn’t specialize in R&D of healthcare, so sharingprogress does help in the long run.>removingunneeded bureaucracy or red tape measures that might be hindering the provisionof healthcare at the costs of patients.
Hi guys, Iwas wondering whether these are relevant examples of government intervention inhealthcare. Please give me feedback on how to improve these in the context ofeconomics and please tell me if I am doing from what examiners may consider asmere observations than interpretations of economics theories.Thanks inadvance!>direct subsidizationof healthcare, especially expensive and long-running treatments such as chemotherapyfor cancer patients. Anotherform of direct subsidization would be building more health facilities to accommodatethe ever-shortage and excessive demand of beds in the NHS.>Indirectsubsidization by encouraging people to join medical fields by offering greaterincentives (maximum wage raise for doctors in the public sector or simply byallocating more budget into scholarships for programs that are going to improvehealthcare, thus, raising social benefit in the long run.)>settingprice ceilings and government watchdogs in private healthcare industries, asprivate healthcare is notorious for exploiting patients due to asymmetricinformation>attractingdoctors, nurses and healthcare officials from foreign nations such as Ghana andIndia to work in the NHS by providing them better incentives or facilitiesunavailable to them in their home countries. This increases medical workforceand reduces the workload of the currently stressed out NHS. This would raise laborproductivity.For example,emphasizing on the better standard of living of UK to lure a doctor or reducingimmigration barriers for doctors.>Imposinga higher taxes on demerit goods that cause need for healthcare in the future(cigarettes and alcohol). This tax revenue may be used to fund healthcaresubsidies.>collaboratingmore frequently with foreign healthcare systems to share new innovation,knowledge and techniques to raise social benefits in the long run. Let’s faceit, one single country doesn’t specialize in R&D of healthcare, so sharingprogress does help in the long run.>removingunneeded bureaucracy or red tape measures that might be hindering the provisionof healthcare at the costs of patients.
Original post by tanusha-tomsk
1 March 2009
Hello
I used to help A-Level economists in this thread and over PM.
I don't do this anymore though...
(i) I've got too much stuff to do as it is
(ii) It's been 3 years since I've done my A-Levels
(iii) I don't even come on TSR that often anymore
However this thread is still alive - thanks to all those who keep it going.
Do visit TSR Economics society - some lovely people over there could help you if you ask nicely.
Best of luck!
Hello
I used to help A-Level economists in this thread and over PM.
I don't do this anymore though...
(i) I've got too much stuff to do as it is
(ii) It's been 3 years since I've done my A-Levels
(iii) I don't even come on TSR that often anymore
However this thread is still alive - thanks to all those who keep it going.
Do visit TSR Economics society - some lovely people over there could help you if you ask nicely.
Best of luck!
Hi , I was wondering whether these are relevant examples of government intervention inhealthcare. Please give me feedback on how to improve these in the context ofeconomics and please tell me if I am doing from what examiners may consider asmere observations than interpretations of economics theories.Thanks inadvance!
>direct subsidization of healthcare, especially expensive and long-running treatments such as chemotherapyfor cancer patients. Anotherform of direct subsidization would be building more health facilities to accommodate the ever-shortage and excessive demand of beds in the NHS.
>Indirect subsidization by encouraging people to join medical fields by offering greaterincentives (maximum wage raise for doctors in the public sector or simply byallocating more budget into scholarships for programs that are going to improve healthcare, thus, raising social benefit in the long run.)
>setting price ceilings and government watchdogs in private healthcare industries, asprivate healthcare is notorious for exploiting patients due to asymmetric information
>attracting doctors, nurses and healthcare officials from foreign nations such as Ghana and India to work in the NHS by providing them better incentives or facilities unavailable to them in their home countries. This increases medical workforce and reduces the workload of the currently stressed out NHS. This would raise labor productivity.For example,emphasizing on the better standard of living of UK to lure a doctor or reducing immigration barriers for doctors.
>Imposing a higher taxes on demerit goods that cause need for healthcare in the future(cigarettes and alcohol). This tax revenue may be used to fund healthcaresubsidies.
>collaborating more frequently with foreign healthcare systems to share new innovation,knowledge and techniques to raise social benefits in the long run. Let’s faceit, one single country doesn’t specialize in R&D of healthcare, so sharing progress does help in the long run.
>removing unneeded bureaucracy or red tape measures that might be hindering the provisionof healthcare at the costs of patients.
(edited 8 years ago)
What is the impotance if opportubity cost in goverments and businesses with real lofe exampkes
Original post by Xnessxmcx
What is the impotance if opportubity cost in goverments and businesses with real lofe exampkes
Hey man my answers to your questions are attached in this file.
Original post by Xnessxmcx
What is the impotance if opportubity cost in goverments and businesses with real lofe exampkes
Here is a version online
Business Example
Let’s say aprimary school nearby your home has received a subsidy of 60000 pounds.Now withthat money, the school has the option of buying 10 smartboards or hire 4 teachersfor a year.The school administrationfeels that adding more staff is more vital in improving the quality of itseducation as there will be a lower teacher to student ratio than simply adding afew high tech gizmos. Let’s saythe school has hired four new teachers, now the opportunity cost of adding theteachers was the ten smartboards as that was the next best alternative forgone(or simply gone) whilst making a choice. Government policy example Since the Eisenhower's presidency, the USA government has invested over half a trillion dollars toimprove their highway road system. Now what are the opportunity costs of that?USA couldhave allocated that money in improving the quality of existing infrastructure,by refurbishing existing airports, bridges and flyovers. Some transportationofficials and politicians have argued that quality improvement was more crucialthan the expansion of roadways to very remote areas.The governmentcould have accumulated half a trillion dollars’ worth of soveirgn funds. (LikeNorway)Thegovernment could have paid regional subsidies to people living in remote andrural areas (like Cali farmlands), by offering them extra money to move and buyproperty in cities (like NYC). This way they don’t have to build new roads torural areas at the first place! q�'�Q�
Explain with the use of a diagram why the supply of a commodity tends to increase with a rise in its price.
Does the supply line increase or decrease
Or does the demand line increase or decrease?
Elasticity of Demand
Elasticity of Supply
Does the supply line increase or decrease
Or does the demand line increase or decrease?
Elasticity of Demand
Elasticity of Supply
Quick Reply
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