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    (Original post by Dilzo999)
    It can in theory actually increase AD as oil is mostly imported and with an increase in price it will deter people from importing but evaluation is it's inelastic so they'll still import. And yeah cost push inflation blah
    In theory it can as suppliers up the price of oil whichh will reduce consumption...but this same question came up in may 2011 question a) ii and the it stated only accept a shift to left in as not ad
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    (Original post by Brandon_RNS)
    Yes yes and yess!! I did all four of your points and rvaluated each with a couple of yours and my own! Did you refer to extract 2 in your answer i didnt
    Extract 2 had nothing of relevance it was a waste of time reading it!
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    (Original post by Dilzo999)
    Extract 2 had nothing of relevance it was a waste of time reading it!
    Trust me! I didnt use the bloodclart extract in the whole paper. Do you even remember what it was about?
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    (Original post by HKhan12)
    Hey well what I did was defiance fiscal policy and outline the 6 macro economic objectives then drew a diagram wi labelled curves and shifts etc. then I spoke about how a decrease in gvmt spending causes as to shift I depending on how great it I and this works with the policy of maintaining a low rate of inflation. Then I talked about balance o payments getting better and the environment getting better due to less pollution from cars etc. then I spoke about what I conflicts with and so spoke about unemployment levels rising and income redistribution worsening and one other thing that I spoke about. Anthem it also depends on how long it takes for these changes to take place. Do u think that's ok?
    Seems good. You've talked about the main points and have evaluation in there.
    I'm pretty sure every has the same answer for that question since there was only one answer which could have been written I think the differences will be in evaluation and you seem to have valid ones. Hopefully we'll be fine
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    What was the other 12 marker apart from living standards?
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    (Original post by Brandon_RNS)
    Trust me! I didnt use the bloodclart extract in the whole paper. Do you even remember what it was about?
    Nope, what did you use as data reference for the 4 marker on what is a trade deficit?
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    (Original post by Dilzo999)
    Extract 2 had nothing of relevance it was a waste of time reading it!
    I thought it was only me!
    The only thing I used from extract 2 was for the CPI and inflation questions and the real incomes. Technically the first paragraph there rest were BS!
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    (Original post by dan94adibi)
    Seems good. You've talked about the main points and have evaluation in there.
    I'm pretty sure every has the same answer for that question since there was only one answer which could have been written I think the differences will be in evaluation and you seem to have valid ones. Hopefully we'll be fine
    I put that unemployment could be lowered because there is less govt expenditure for benefits so the value of benefits like JSA will decrease, leadinf to more people getting a job. Would I get marks for this? Slightly worried now as everyone's saying that unemployment would rise..


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    (Original post by dan94adibi)
    Seems good. You've talked about the main points and have evaluation in there. I'm pretty sure every has the same answer for that question since there was only one answer which could have been written I think the differences will be in evaluation and you seem to have valid ones. Hopefully we'll be fine
    Cheers buddy.
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    (Original post by pessimist)
    I spoke about how it could increase unemployment with the Phillips Curve. And I can't remember my second point for the life of me


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    OMG same here
    second point I just wrote about it could cause uncertainty and damage the business and consumer confidence as the target has been missed.

    Hope we're right
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    (Original post by Dilzo999)
    Nope, what did you use as data reference for the 4 marker on what is a trade deficit?
    Well, i said that a 'a reduction in trade deficit could boost uk economic growth' something like this it said in the extract


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    (Original post by Dilzo999)
    Nope, what did you use as data reference for the 4 marker on what is a trade deficit?
    Couple of things, government trying to reduce it. Exprts up 20 somthing percent and imports up 16
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    (Original post by dan94adibi)
    I thought it was only me!
    The only thing I used from extract 2 was for the CPI and inflation questions and the real incomes. Technically the first paragraph there rest were BS!
    Yeah it was the same for Q1. I actually wanted to just switch to question 2 half way through as I knew I could have gotten better if it wasn't for that darn index question. I got 177 so I dunno I might get 1/2 marks for it hopefully.
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    What did people put for the 4 marker about updating GDP figures or something along those lines ?
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    (Original post by dan94adibi)
    OMG same here
    second point I just wrote about it could cause uncertainty and damage the business and consumer confidence as the target has been missed.

    Hope we're right
    Me too. I can't see why we'd be wrong


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    (Original post by Dilzo999)
    Yeah it was the same for Q1. I actually wanted to just switch to question 2 half way through as I knew I could have gotten better if it wasn't for that darn index question. I got 177 so I dunno I might get 1/2 marks for it hopefully.
    Oh man, yh you have to add 100 to it since the base year will always be 100.
    Don't worry about it though. You will get marks for your working out. Its not all about the final answer and as long as you've done OK on other questions I'm pretty sure you'll be fine.
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    (Original post by Farringtonn)
    What did people put for the 4 marker about updating GDP figures or something along those lines ?
    Waffle. I literally had no clue, I quoted something about The National Statistics thingy had to lower the estimate from 0.3to 0.2% GDP, I had no idea.


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    (Original post by ljh950912)
    Well, i said that a 'a reduction in trade deficit could boost uk economic growth' something like this it said in the extract


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    I defined it first and then I think I quoted something about how a "25% fall in sterling exchange rate would hopefully lead to a reduction in the trade deficit" stating that it would lead to an increase in volume of exports and a decrease in volume of imports, which would (in theory) reduce the current account deficit.
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    (Original post by Farringtonn)
    What did people put for the 4 marker about updating GDP figures or something along those lines ?
    Defined GDP and used the data GDP was revised from -0.3% to -0.2%
    The said that ceteris paribus does not hold true in the real world, consumer and business confidence are constantly changing through demand and supply side shocks hence revision is required.

    I thought that was a horrible question to ask.
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    (Original post by Fullycorporate)
    I defined it first and then I think I quoted something about how a "25% fall in sterling exchange rate would hopefully lead to a reduction in the trade deficit" stating that it would lead to an increase in volume of exports and a decrease in volume of imports, which would (in theory) reduce the current account deficit.
    same except i didnt define nothing
 
 
 
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