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    (Original post by Rubberbandit)
    I got 5.39%. What about you???
    I got 5.39% too. i made so many errors but got that eventually
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    anyone do context 2? what did you write about in 25m?
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    (Original post by jbg999)
    anyone do context 2? what did you write about in 25m?
    The extract had everything you needed to know tbh haha
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    (Original post by brownboy1234)
    I got 5.39% too. i made so many errors but got that eventually
    Yeah thats what I got, that maths question and bar chart took me ages, so much longer than anything I have done in the specimen and previous papers.
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    (Original post by ImGoingToFail12)
    Yeah thats what I got, that maths question and bar chart took me ages, so much longer than anything I have done in the specimen and previous papers.
    im so annoyed, i literally thought 400.3 thousand was 4003000 ffs how many marks do you think i lost? i done the right method and everything ?
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    Considering it was out of 4 marks, you obviously didn't get the answer so that is one mark lost, so I assume that if the method is 100% right you would probably get 2 or 3 marks. Probably 2.
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    for context 1 im not sure my point of issues are correct
    1) expansionary monetary so increased AD
    2) fall in AD and strong exchange rate as imports are cheap
    3) multiplier and accelerator????????????????????? ? is it fine
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    (Original post by jbg999)
    anyone do context 2? what did you write about in 25m?
    Immigrants increase AD, increasing growth, decreasing unemployment, increasing inflation and therefore worsening the BoP deficit
    However, in the long-run, there is no growth since inflation raises wages, increasing CoP and shifting SRAS left. Also, Keynesians would say that if demand is very low, then there will be no inflation

    They also increase SRAS and LRAS, increasing growth, decreasing unemployment, decreasing inflation and therefore decreasing the BoP deficit. However Keynesians would argue etc etc.. Also I talked about Marshall Lerner's condition, but idk it that's right

    Conclusion blah blah blah

    What about you??????????
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    (Original post by Rubberbandit)
    Immigrants increase AD, increasing growth, decreasing unemployment, increasing inflation and therefore worsening the BoP deficit
    However, in the long-run, there is no growth since inflation raises wages, increasing CoP and shifting SRAS left. Also, Keynesians would say that if demand is very low, then there will be no inflation

    They also increase SRAS and LRAS, increasing growth, decreasing unemployment, decreasing inflation and therefore decreasing the BoP deficit. However Keynesians would argue etc etc.. Also I talked about Marshall Lerner's condition, but idk it that's right

    Conclusion blah blah blah

    What about you??????????
    It wont worsen BOP deficit , decreasing unemployment will mean that they spend less money on JSA and they get more tax thus improving deficit
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    (Original post by Bigpaddy27)
    QUOTE=Manboobsmatthew;65080213]What did everyone get for the MPC question about trend rate compared with annual economic growth? I was unsure but went A (which was in 2013 there was an increase in spare capacity).
    think I did fall in spare capacity[/QUOTE]

    same bruv, hope thats correct

    suprisingly MCQ wasnt too hard, not as easy as some years but at the same time not as hard either.
    GOOD LUCK for all your other exams people!
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    (Original post by tamcat)
    think I did fall in spare capacity
    same bruv, hope thats correct

    suprisingly MCQ wasnt too hard, not as easy as some years but at the same time not as hard either.
    GOOD LUCK for all your other exams people![/QUOTE]

    it had to be fall in spare capacity as it moved onto the trend rate which means full capacity! Good luck to you too !
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    (Original post by tsr1807)
    For context 2, was the 10 marker on trade deficit or budget deficit because I'm worried I've done the question wrong!
    Stop worrying and focus on your remaining exams!
    Worrying won't change anything.
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    (Original post by Rubberbandit)
    Immigrants increase AD, increasing growth, decreasing unemployment, increasing inflation and therefore worsening the BoP deficit
    However, in the long-run, there is no growth since inflation raises wages, increasing CoP and shifting SRAS left. Also, Keynesians would say that if demand is very low, then there will be no inflation

    They also increase SRAS and LRAS, increasing growth, decreasing unemployment, decreasing inflation and therefore decreasing the BoP deficit. However Keynesians would argue etc etc.. Also I talked about Marshall Lerner's condition, but idk it that's right

    Conclusion blah blah blah

    What about you??????????
    Yeah pretty much the same! Hope it's gone ok
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    (Original post by Jibzy16)
    Tell me how you'd get 10 marks from talking about AD only? There's one point you can make about it, whereas if you talk about AS, you have an additional diagram/more content to write about.
    If u read the mark scheme for the specimen papers you only need one or more developed points to achieve full marks.Therefore you only needed to talk about ad or you could of talked about as instead there was no need to do both . Furthermore it doesn't matter about extra content and extra diagrams lol its only 10 marks
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    (Original post by harrydunn11)
    Mmm not bad multi choice was quite difficult, did context 1. 5, 8 and 12 markers went ok. For 25 marker I said AD would shift because lower value of pound causes improvement of current account by exporting more and importing less. Unemployment falls and GDP increases, inflation also increases then showed a diagram of AD shifting right. For some reason decided to talk about LRAS shifting to the left as Extract C said a fall in pound would lead to decrease in standard of living so I said workers would be demotivated so productivity falls therefore LRAS would not grow as much or shift left as shifting left is easier to show on diagram. This then results in a positive output gap so more inflation but high employment (is that all right?). You can evaluate all this by saying the amount of inflation and employment there is depends on how much spare capacity the economy has I.e where AD is on the LRAS curve.
    What did anyone else write?
    I talked about the macroeconomic objectives for the 25 marker, I did mention how exporting would be increasing because of the prices being lower so the cost of production would decrease. I also said that the commodity prices would create a worse current account deficit because the firms in the UK will be buying more goods from outside the country, which affects the macroeconomic objective of a satisfactory balance of payments. Also, showed AD shifting to the left and then further effects because of the shift.
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    (Original post by stefano_)
    I talked about the macroeconomic objectives for the 25 marker, I did mention how exporting would be increasing because of the prices being lower so the cost of production would decrease. I also said that the commodity prices would create a worse current account deficit because the firms in the UK will be buying more goods from outside the country, which affects the macroeconomic objective of a satisfactory balance of payments. Also, showed AD shifting to the left and then further effects because of the shift.
    I did-

    Intro- defined key terms
    Arg 1- the fall in prices of commodities is equitable for consumers as lower income households will be able to consume more easily with higherPURCHASING power (increase AD diagram). Evaluated- also equitable for firms as their cost of production will fall. Though- the wage price spiral could take place and this would undermine this idea and contradicts context- oil prices back on the rise.

    Arg 2 with LRAS shifting right diagram- expansive monetary policy alongside fiscal policy may lead to more money being injected into projects such as retraining of workers to solve structural unemployment and this would boost performance of economy. Evaluated- strong as this could make the UK more competitive in the longRUN and then contradicted saying that index prices show food increasing again so the likelihood of an expansive monetary policy is unlikely as inflation may increase.

    Conclusion- compared arguments and spoke about the current state of the economy such as oil prices effecting my conclusion and that the government should place more emphasis on solving the '6%' deficit etc in order to boost the performance of the economy.
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    (Original post by Accountantlolks)
    It wont worsen BOP deficit , decreasing unemployment will mean that they spend less money on JSA and they get more tax thus improving deficit
    BOP stands for balance of payments. The balance of payments deficit is different to the budget deficit. I think you mean it won't worsen the budget deficit, which is not what I was talking about.
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    to anyone who did the 25 marker on the smoking part in unit 1, what did you talk about?
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    I don't know if i posted here, but i was wondering if anyone here did the 25 marker on the cigarettes in unit 1, what did you write?
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    (Original post by stefano_)
    I don't know if i posted here, but i was wondering if anyone here did the 25 marker on the cigarettes in unit 1, what did you write?

    I did... 1st arg- solves a partial market failure associated with the consumption of the negative externalities, smoking being a demerit good. Regulation through the use of taxes would reduce the qd and solve failure. Evaluated- weak demand may be price inelastic due to addictive nature thus tax would not be effective.

    2nd arg- inequitible to place a tax on firms as it may lead to job losses within the industries, quoted sources not too sure what else.

    conclusion- compared underlying issue of gov failure v mkt failured, subsidising cig alternatives may be best soloution etc and then rounded it off.
 
 
 
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