Ocr economics f581 (16/05) and/or f582 (23/05) retakes

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Just searched on Google. The yen depreciated over the last few years. There is a depreciation. You wouldn't get the marks for an appreciation

Yeah but it's in reference to the figures given in the table so I guess anything else is irrelevant

Reply 441

tenro

I am curious about this question too
'Comment on whether a large decline in output is likely to result in lower government spending (6 marks)'
A fall in output likely means a shift in of AS doesn't it? So could an analysis point be that the government would lower its spending in order to avoid demand pull inflation if the shift in of AS resulted in it?
Then the comment on points being the gov spending rising due to more unemployment benefits (JSA) if the fall in output resulted from this. Then the extent depending on how big the decline really was, whether it was short run or long run and the type of unemployment (if frictional then gov spending will increase in short run only to fall back to previous levels in the long run when the workers get their jobs back)
Do you think this accesses all 6 marks?

Reply 442

Pato1

So I guess even if you said 'currency appreciated' alone it is invalid?

Reply 443

tenro

Original post by Ablojo

Thank you, but just wondering where you have posted the unofficial mark scheme?

The link was posted earlier in the thread but here it is again:

https://docs.google.com/document/d/15w-a2J4X3xJDwJYVL0JVCZnIHgoRcK53k4uDgRgiBy8/edit
It isn't complete yet, but people have been adding to it, everyone's opinion is valued

Reply 444

tenro

Original post by Pato1

So I guess even if you said 'currency appreciated' alone it is invalid?

Can't say for certain but if you said Fig 1 shows appreciation of yen then you should get at least 1 mark
Or are you meaning the US dollar appreciated? If you didn't specifically reference the US dollar with no mention of the yen depreciating elsewhere then you may get away with it

Reply 445

Adam97s

I said for the output question ways the government can increase output. Eg cutting corporation tax etc and then commented that g spending can create jobs. I also said that there will be a budget deficit because spending was exceeding tax revenue. Will I get 0 marks?

Reply 446

CheekySploon

When you mess up the first two questions, extra cheeky :wink:

Reply 447

Pato1

Original post by tenro

Put it on invite only, too many people are deleting stuff. I'll pm you my Google name.

Reply 448

Pato1

Original post by tenro

Lower output = lower tax receipts = lower government spending.

Reply 449

tenro

Original post by Pato1

Put it on invite only, too many people are deleting stuff. I'll pm you my Google name.

I didn't create the doc for the mark scheme I believe thelion did, so probably best PMing him! + I think the reason it was put as open was to make the construction of it a lot quicker, but I agree invite only would be best now so valid answers are kept

Reply 450

tenro

Original post by Pato1

Lower output = lower tax receipts = lower government spending.

Yeah I see that point of reasoning, I was curious as to whether my reasoning regarding gov spending decreasing in a now overheating economy due to the fall in output leading to a shift in of AS to reduce inflation was also valid

Reply 451

pelias_100

if i said how economic growth increasing can lead to further economic growth itself will i get marks for that?

Reply 452

thelion786

Original post by Pato1

Put it on invite only, too many people are deleting stuff. I'll pm you my Google name.

I've made it so that people can comment things an I can keep the things that are relevant. Anything that is being deleted will be bought back if it was deleted because of someone being stupid.

Reply 453

Goldfly

Original post by Pato1

Lower output = lower tax receipts = lower government spending.

I put this but I think it's wrong since government spending is independent of tax revenue. Think A2 'fiscal policy issues' how governments don't spend more in a surplus despite getting more tax revenues and often borrow in a deficit for spending despite getting less tax revenues

Reply 454

pelias_100

anyone have an answer?

Reply 455

pelias_100

you can justify government spending increasing due to an increase in tax revenue. it is an acceptable response

Reply 456

Goldfly

Original post by Mrmillion51

Just searched on Google. The yen depreciated over the last few years. There is a depreciation. You wouldn't get the marks for an appreciation

Bruh, it clearly appreciated. Check the data from pre 2012

Reply 457

tenro

Original post by pelias_100

anyone have an answer?

I'm not sure anyone can say for certain but it depends how you referenced the growth leading to increased growth as the question specifically asked for other macro-economic objectives

Reply 458

Pato1

Original post by Goldfly

Our tax revenue is used on things such as defence

Reply 459

chaz100

Original post by Goldfly

Bruh, it clearly appreciated. Check the data from pre 2012

I put that the yen was a weak currency in comparison to the dollar, however it was strengthening throughout those years. Meaning that their exports would become more expensive and imports would become cheaper... Blah blah blah. Would that be alright do you think?