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**********OFFICIAL OCR ECONOMICS F582 21st MAY 2014 THREAD************ Watch

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    (Original post by apple cakes)
    What did u write about argument against?
    I wrote if we are working at maximum output surplus increasing AD will cause high inflation? Is that correct?
    yeh I put demand-pull inflation
    then unsustainability (pollution due to increased production)
    & less variety of goods and services so lower living standards

    Ahh that was probably the worst essay question of all time!
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    There's a huge difference between last years unit 2 and this one.
    http://sccecon.weebly.com/uploads/1/...82-01jun13.pdf
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    (Original post by tomixox)
    I think the reason for this is due to us picking up 6ix easy marks - 3 for components of AD and 3 for what affects consumer expenditure

    What affects consumer expenditure? What did you put?
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    (Original post by Ben_S96)
    With the multiplier, in comparison to South Korea, I picked up from the case study that South Korean households spend/consume less, which is the key element in the multiplier effect. Didn't go further though, question just said why the two might differ. For rapid growth I picked out women entering the work force and growing population. The actual structure of the case study is directly linked to the questions, you can clearly see which part of the study they are talking about and what they want you to mention...I think!
    Ahhhh!! Does that means i've pretty much got 0 in that?
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    What did you write for the multiplier effect question?
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    (Original post by lionelmessi19)
    What did people get for the multiplier effect question?
    I talked about the increase in women in the labour force, would increase supply, and could also increase consumption, which is the multiplier since women would spend more as they earn money etc..

    What did you put for the comment question on how Turkey would rapidly increase growth?
    I talked about supply side policies here.. Suggesting that if there is an increase in spending on education and training, there will be an increase in supply which can increase potential growth etc..

    I think I got those 2 horribly wrong!
    Rapid economic growth can't be supply side? I'm not too sure however


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    (Original post by clara16)
    For some of my evaluation in the 18m I wrote a long section on how if the surplus was formed through ways like taxation on imports or quotas etc. that it could have negative effects on the economy because of possible retaliation from the other country's reducing the markets for exports...

    I don't know I got a tad stuck is this worth any marks?


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    ah thank god, i wrote about this too and how if a country's exports were cheaper, foreign countries might increase their use of protectionism strategies to offset the effect on their own domestic GDP!

    i wrote a lot about supply side policies at the end of the 18 marker too for some reason as it was talked about in the case study at the beginning, did anyone else do this? not sure if it was relevant but i think i linked it to the question, it's all a bit of a blur
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    I think we should all be happy it was hard in a way, lower grade boundaries, and seeing as pretty much everyone found it hard cheers me up
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    (Original post by MrHogwash)
    What did you write for the multiplier effect question?
    I put that in South Korea they spend less, so Save more, and saving is a leakage therefore there was a Negative multiplier effect.... so the other country had a larger multiplier as there was higher economic growth

    idek if that's right?
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    For multiplier effect question I just wrote from the case study about gdp being higher although they spend a lower proportion of their income. is this correct?
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    (Original post by nKolundzic97)
    What affects consumer expenditure? What did you put?
    I put real disposable income, interest rates and consumer confidence. What about you?
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    (Original post by lionelmessi19)
    Ahhhh!! Does that means i've pretty much got 0 in that?
    I don't want to worry you! I might've got it wrong. You probably wouldn't have gotten 0 if what you wrote made sense. After all it said with reference to the case study, meaning the whole case study, so arguably you could've used any of it to make a point...Having got a C in this last year and restting for an A, I'm slightly worried now.
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    (Original post by nitin0896)
    I think we should all be happy it was hard in a way, lower grade boundaries, and seeing as pretty much everyone found it hard cheers me up
    I'm sure that 8% and 9% GPD calculation caught al lot of people. Only 2 people in my class got $68.04Bn, the rest forgot to add the growth.
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    (Original post by lionelmessi19)
    What did people get for the multiplier effect question?
    I talked about the increase in women in the labour force, would increase supply, and could also increase consumption, which is the multiplier since women would spend more as they earn money etc..

    What did you put for the comment question on how Turkey would rapidly increase growth?
    I talked about supply side policies here.. Suggesting that if there is an increase in spending on education and training, there will be an increase in supply which can increase potential growth etc..

    I think I got those 2 horribly wrong!
    I didn't sit the paper so I don't know the full context of the question, but what I do know is that supply-side policies such as education and training generally have a time lag associated with them and wouldn't work if you wanted to RAPIDLY increase growth, they're more of a long term solution.
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    I talked about how a budget deficient can cause cyclical unemployment due to lower demand. I talked about how also a deficit can cause deflation (resulting in more inflation) and I'm fairly sure I mentioned it might be good thing to lower demand pull inflation. I talked about the significance, eg a deficiet is more costly if its structural than cyclical etc.
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    (Original post by Ben_S96)
    With the multiplier, in comparison to South Korea, I picked up from the case study that South Korean households spend/consume less, which is the key element in the multiplier effect. Didn't go further though, question just said why the two might differ. For rapid growth I picked out women entering the work force and growing population. The actual structure of the case study is directly linked to the questions, you can clearly see which part of the study they are talking about and what they want you to mention...I think!
    I thought the women participation and growing population was in south Korea????

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    *more unemployment
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    What did people write for 'why do governments seek to achieve economic growth'?
    I messed up and ****, i wrote about increasing standards of living and reducing unemployment
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    Two monetary policy measures??


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    (Original post by ZQ110)
    I put that in South Korea they spend less, so Save more, and saving is a leakage therefore there was a Negative multiplier effect.... so the other country had a larger multiplier as there was higher economic growth

    idek if that's right?
    OMG!!!!!!!!!! Wrote the same too. I thought I was wrong on that as I scribbled some random stuff from the case study.Came out pissed off
    Think I got at least a D now
 
 
 
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