i messed up the calculation hopefully might get a mark. How did everyone draw their bar charts?
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AQA Economics UNIT 2 23rd May 2016 watch
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Bigpaddy27
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- 23-05-2016 12:18
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Roxyfreeman
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- 23-05-2016 12:18
(Original post by sharmonraja)
I also got -41.42
And I put 'increase in budget deficit' but I think the correct answer may be increase in exportsI put increase in budget deficit too cus that would mean increase in government spending which increases demand, but I wasn't sure because I thought they both increased demand :/
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Bigpaddy27
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- 23-05-2016 12:18
(Original post by Roxyfreeman)
I got -41.42 for the percentage change because I did the 2015 March amount minus the sept 2015 amount and divided by the September 2015 amount
Also for the multi choice q about shifting demand rightwards did people say this was due to an increase exports or due to an increase in the deficit? -
sharmonraja
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- 23-05-2016 12:20
(Original post by Roxyfreeman)
That's goodI put increase in budget deficit too cus that would mean increase in government spending which increases demand, but I wasn't sure because I thought they both increased demand :/
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Jessicasmithh777
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- 23-05-2016 12:22
Did anyone do context 1? After they evaluated what would happen for commodity prices did they say how they could fix it with policies?
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Accountantlolks
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- 23-05-2016 12:22
(Original post by Rubberbandit)
Nooo. Did you get something like 53.9% then? -
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- 23-05-2016 12:24
(Original post by sharmonraja)
I also got -41.42
And I put 'increase in budget deficit' but I think the correct answer may be increase in exports
With the exports, I know an increase in exports does shift AD right as well, but I was a bit unsure about that because I was thinking that it doesn't talk about net exports (X-M).
Also, for the GDP question what did you guys put for the multi-choice data question, I remember I put no change in GDP/capita.
For the 10 marker, I talked about this:
I defined inflation as "A general sustained increase in the price level/the decrease in purchasing power of money." Then I talked about how a stronger pound means imports are cheaper (AS shifts right) as imports are raw materials, and then AD shifts left as exports are dearer. Then I mentioned that PL drops so inflation decreases. Didn't know what else to write to be honest because it only mentioned about inflation being affected, hopefully I get 8/9 marks for that one! -
sharmonraja
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- 23-05-2016 12:24
(Original post by Jessicasmithh777)
Did anyone do context 1? After they evaluated what would happen for commodity prices did they say how they could fix it with policies? -
Jessicasmithh777
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- 23-05-2016 12:26
Oh
I basically did all policies
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- 23-05-2016 12:27
(Original post by sharmonraja)
But an increase in budget deficit could also mean lowered taxes and this doesn't increase AD
AD would shift right, both as a result of a cut in tax and an increase in Govt spending. -
sharmonraja
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- 23-05-2016 12:29
(Original post by Jibzy16)
Lower taxes DOES increase AD, think about if firms & consumers are taxed less, they have more disposable income (the money that households have available for spending & saving after income tax). If taxes are less, then consumption & investment increases because of consumers/firms having more money to spend.
AD would shift right, both as a result of a cut in tax and an increase in Govt spending. -
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- 23-05-2016 12:31
(Original post by Jibzy16)
I remember it being in the -40's, so yes it was probably -41.42, don't know why I said -43.
I just found the change/divided by original * 100. -
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- 23-05-2016 12:31
(Original post by Jessicasmithh777)
Did anyone do context 1? After they evaluated what would happen for commodity prices did they say how they could fix it with policies?
You could have talked about supply-side policy due to a fall in fuel prices, transportation costs are less/easier to move, improving productivity and shifting LRAS curve outwards (increased output and therefore more incentive to employ more workers), this means that macro-economic objective of low unemployment would be more achievable. -
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- 23-05-2016 12:32
(Original post by SANTR)
How many marks would I get penalised for saying -41.1% instead of -41.42? -
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- 23-05-2016 12:35
(Original post by sharmonraja)
That makes sense, but then why would the answer not be increase in exports then?
I'm not to sure about it, was a weird one, but budget deficit gave a clear, definitive answer out of them all. -
Accountantlolks
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- 23-05-2016 12:35
(Original post by Jibzy16)
If you have showed working, then you would only drop 1 mark because it said leave your answer to 2 decimal places, so you'd have got 3/4, provided the working is there, e.g. you showed (change/original) * 100. -
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- 23-05-2016 12:38
(Original post by Accountantlolks)
What so answer is one mark? If I got figures wrong but done new / original with wrong figures only 1 mark off? Thanks -
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- 23-05-2016 12:38
(Original post by Jibzy16)
If you have showed working, then you would only drop 1 mark because it said leave your answer to 2 decimal places, so you'd have got 3/4, provided the working is there, e.g. you showed (change/original) * 100.
For the 10 marker, how many marks can you score if you discussed the idea that a stronger pound > export prices rise > exports less competitve > demand for exports falls > E-X component of AD falls > AD decreases > show leftwards shift of AD, fall in PL. But I didn't discuss the idea of cheaper imports, supply curve shifting etc.Last edited by SANTR; 23-05-2016 at 12:41. -
Accountantlolks
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- 23-05-2016 12:39
(Original post by Jibzy16)
A wrong answer with right workings would most likely get you 2 marks, not 3. If you've got the answer and calculations right, but not followed the 2 decimal places part, then you'd get 3 marks because calculations are right which give the majority of the marks. -
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- 23-05-2016 12:40
(Original post by Accountantlolks)
Okay thanks. But anyways do bar charts have to be spaced out ?
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Updated: June 22, 2016
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