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    What are the chances of an inflation question popping up?


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    (Original post by Robbanner)
    Can someone explain Investment to me and how it effect Economic growth? Only thing I dont feel really confident on!

    Also what would be the best graph to draw for tomorrow!?

    Thanks!
    This is the accelerator affect.
    Here is one way... (I'm sure there's several other ways you can approach it)
    When investment increases, it suggests that theres more firms in the economy or that the existing firms are growing and expanding. This obviously increases the number of jobs available and unemploment falls. The increase jobs imply fewer transfer payment and increased national income. There is going to more disposable income in the economy therefore consumption increases. Increase in consumtion is increase in GDP.
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    Just read the examiner's report and they like synopticity apparently. That is when you bring in stuff from ECON3
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    Need 62 ums for a B if my unit 2 doesnt go up ! I would love a fiscal/monetary/supply side question or gloabalisation and free trade , wouldnt really like to see exchange rates to come up what is everyone else hoping for grade and topic wise
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    Can someone please tell me the advantages and disadvantages of using different measures of living standards, thank you
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    (Original post by Skilled)
    Can someone please tell me the advantages and disadvantages of using different measures of living standards, thank you
    Human Development Index measures educational attainment, living standards and life expectancy- the drawback is that the education standards in countries differs. Advantages - better judgement can be made about the welfare of people.

    GDP- excludes the 'black economy' being 10-15% in the UK, ignores the value of leisure and so on, it can be a good thing as it shows us the welfare of people (I don't know )
    Hope this helps!
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    (Original post by Axion)
    Just read the examiner's report and they like synopticity apparently. That is when you bring in stuff from ECON3
    Yh and econ2/econ1

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    (Original post by Skilled)
    Can someone please tell me the advantages and disadvantages of using different measures of living standards, thank you
    -GDP only takes into account goods that are recorded as having being traded in markets, they exclude the non monetised sector (where no money changes hands).
    -GDP doesn't take into account quality improvements; thus it understates welfare gains.
    -GDP doesn't take intro account negative externalities.
    -GDP doesn't take into account the value of leisure; producing more output could lead to less leisure and higher stress levels on individuals- further problems.
    Therefore you can use alternatives instead of GDP e.g. Human Development Index.
    Hope this helped
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    (Original post by qr95)
    Yh and econ2/econ1

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    how u feelin for this bro? I'm a bit shaky, only got 80 on econ 2 last year
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    Trying to compile a list or topics to talk about in the 25 markers,bold underlines those which you are most likely going to talk about it all (the macro objectives);
    -Growth
    -Inflation
    -Unemployment
    -BOP
    -comparitive advantage/competitiveness
    -investment (FDI)
    -exchange rate
    -fiscal/monetary policies
    -confidence
    -protectionist policies
    -globalisation

    These include evaluation points, if anyone has any alterations please say
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    (Original post by lidiya)
    Human Development Index measures educational attainment, living standards and life expectancy- the drawback is that the education standards in countries differs. Advantages - better judgement can be made about the welfare of people.

    GDP- excludes the 'black economy' being 10-15% in the UK, ignores the value of leisure and so on, it can be a good thing as it shows us the welfare of people (I don't know )
    Hope this helps!
    Thanks!
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    Does anyone know where I can find all the current info (unemployment rate, inflation rate etc)?
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    (Original post by lidiya)
    GDP- excludes the 'black economy' being 10-15% in the UK
    Better off using the term 'Informal Economy' or 'Informal Sector'
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    (Original post by bestfriends33)
    -GDP only takes into account goods that are recorded as having being traded in markets, they exclude the non monetised sector (where no money changes hands).
    -GDP doesn't take into account quality improvements; thus it understates welfare gains.
    -GDP doesn't take intro account negative externalities.
    -GDP doesn't take into account the value of leisure; producing more output could lead to less leisure and higher stress levels on individuals- further problems.
    Therefore you can use alternatives instead of GDP e.g. Human Development Index.
    Hope this helped
    Thanks!
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    (Original post by EyesWideShut)
    Does anyone know where I can find all the current info (unemployment rate, inflation rate etc)?
    http://www.bbc.co.uk/news/10612209
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    (Original post by Ecomax)
    Better off using the term 'Informal Economy' or 'Informal Sector'
    Bro what d'yu reckon might come up?
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    I know an examiner who has seen the paper, apparently it's a good paper but reading the question really hard is very import and questions which look hard may not be as tricky as you think.
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    (Original post by Tueava)
    I know an examiner who has seen the paper, apparently it's a good paper but reading the question really hard is very import and questions which look hard may not be as tricky as you think.
    can't tell if your lying or not so i'll take your comments with 15 tonnes of salt
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    (Original post by Tueava)
    I know an examiner who has seen the paper, apparently it's a good paper but reading the question really hard is very import and questions which look hard may not be as tricky as you think.
    Topic suggestions?
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    (Original post by Axion)
    Bro what d'yu reckon might come up?
    Of course its completely random and there really is no telling what could come up, but a question on Exchange Rates is due and in the Global Context, a question on the effect of growth of particular countries (Perhaps Brazil for example, or even China) effects living standards in the UK or simply assess the effect of growth in these countries on UK economic performance

    I personally am hoping for this question to come up again
    "Evaluate government policies which might bring about a reduction in the UK deficit on the balance of trade in goods and services."
    or even better
    "To what extent would a significant fall in the exchange rate of the pound sterling achieve a sustained reduction in unemployment in the UK?"
 
 
 
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