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    (Original post by AsmaaMahamud97)
    Are you a teacher in disguise? 👀



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    Ha ha nope, I'm definitely 17 and doing the exam tomorrow
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    (Original post by harryleavey)
    Ha ha nope, I'm definitely 17 and doing the exam tomorrow
    Alrighty, good luck!

    And good luck everyone else.
    I need to get some serious shut-eye.


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    Hey can someone just quickly remind me what the key difference between SRAS and LRAS is?
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    Thanks! So it can shift due to change in costs of production, but the single curve alone assumes that costs of production are constant?
    harryleavey
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    (Original post by rosemondtan)
    Thanks! So it can shift due to change in costs of production, but the single curve alone assumes that costs of production are constant?
    harryleavey
    Yes
    SRAS: shifts if production costs (supply side shocks) change.
    Yes, the single curve assumes costs of production are fixed.


    In the LR, Factor inputs are fixed. AS can only increase if increase in investment, labour size, productivity...
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    What is the best structure to analyse a data question?

    i.e. what does the data show about the economic growth…
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    Good Luck everyone! Getting off this now
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    Can someone explain animal spirits? I'm really confused about it
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    (Original post by BDTOWNSEND)
    Only one see attached i made it for myself so no mark scheme but in same style as exam tommorow and new spec stuff in it
    Thanks !! I think just practising qus will hopefully help
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    How does the lras being inelastic cause inflation?
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    (Original post by hesitantalien)
    Can someone explain animal spirits? I'm really confused about it
    Its basically rational decision making.
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    Hi guys, i'd recommend everyone learns types of unemployment as it's looked over and edexcel might be nasty again and incorporate it into a 15 mark or something.

    These are 3 key 20 marks questions that i think have similar structures to most questions so if you think you can answer these then you should be fine for tomorrow!

    1. Evaluate the effectiveness of monetary policy as a means of achieving price stability in the UK economy.

    2.Evaluate the extent to which there is a conflict between high inflation and the 3 other main economic objectives of the government.

    3. Evaluate the effects of tighter fiscal policy on macroeconomic equilibrium and the balance of payments current account.

    these are all 4 marks AO1, 4 marks AO2, 6 marks AO3, 6 marks AO4

    GOOD LUCK!!
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    can someone please confirm for me whether we trade unions in regards to supply side policy is in the spec as it's been discussed quite a lot on here?
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    guys omg what does everyone know about the great depression and stuff? i didn't realise we had to learn it explicitly!i understand which demand-side policies would need to be put in place to 'correct' a recession or depression, but details from the great depression and recession I don't know! i'm screwed!
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    (Original post by Hot&SpicyChicken;[url="tel:65061169")
    65061169[/url]]Its basically rational decision making.
    Isn't it the complete opposite? As animal spirits refers to the decision made to invest based off of gut instinct
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    (Original post by nicoledsk)
    can someone please confirm for me whether we trade unions in regards to supply side policy is in the spec as it's been discussed quite a lot on here?
    Not explicitly on the spec. But none of the supply did policies are.
    I explained the effect of reducing trade unions a few pages back
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    (Original post by olrosengarten;[url="tel:65061557")
    65061557[/url]]guys omg what does everyone know about the great depression and stuff? i didn't realise we had to learn it explicitly!i understand which demand-side policies would need to be put in place to 'correct' a recession or depression, but details from the great depression and recession I don't know! i'm screwed!
    I don't really think you need to have much knowledge about the Great Depression. And don't worry if you don't know much about it, I doubt they would ask you a question on it anyway. Although you can refer to it when evaluating or something, but you can also have other evaluation points so don't worry about it.
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    Oh and how would you evaluate supply side policies? Apart from the usual time lags?
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    Anyone else awake?? - Currently 2:30am gonna pull an all nighter...
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    I am going to fail this. Just like the micro :colonhash:
 
 
 
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