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F581/ F582 Economics June 2013 Watch

  • View Poll Results: How hard did we find this exam ?
    so hard i felt like crying through the exam
    13
    12.50%
    very difficult , but one or two were alright
    13
    12.50%
    fairly standard
    33
    31.73%
    quite easy , with one or two hard ones
    35
    33.65%
    so easy i felt like dancing throughout the exam
    10
    9.62%

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    (Original post by manchesterunited15)
    The first question, leakages: savings, taxes, spending in the informal economy (ie drugs) 3 marks? what did everyone put?
    i put

    1- savings
    2 - tax
    3- imports
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    The main paper was fine (bar the first question which I struggled with) but the last question totally kicked my arse, had a complete mental block and forgot what economics even meant. Very angry with myself.
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    (Original post by manchesterunited15)
    The first question, leakages: savings, taxes, spending in the informal economy (ie drugs) 3 marks? what did everyone put?
    savings, taxes & imports
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    (Original post by lisa96)
    What did people write for Question 2? Whether the injection s were higher than leakages or something like that.

    I got the japan/china calculation wrong i got 48 and 45. Hopefully that will get me atleast 1 mark.

    The 18 marker wasnt as bad as January's exam, but i would have preferred unemployment because there wasnt that much to write.
    question 2 i put injections were higher as investments was 40% of gdp and consumption was 30% or something similar (it said in the case study) so therefore as investment and consumer expenditure are injections, injections was higher so it was true
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    Decent paper. Lost some silly marks such as the first question where I wrote, spending, imports and taxes. But otherwise the last question was a gem! How did everyone else find the last question?
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    (Original post by lisa96)
    Also for the two causes of inflation i wrote demand pull as wages increase hence growth in ad exceeds as, but also cost push since wages are rising. I didn't write about banks lending though
    Thats exactly what i wrote but said it was demand pull inflation and cost push inflation at the end
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    i put transfer payments for the first question will i get a mark?
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    (Original post by lisa96)
    Also for the two causes of inflation i wrote demand pull as wages increase hence growth in ad exceeds as, but also cost push since wages are rising. I didn't write about banks lending though
    Yeah I said about cost-push, but instead of demand-pull I said unemployment would increase as a result of the increased labour-costs and so C would decrease, shifting AD to the left, reducing inflation
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    I thought overall an ok paper, but the question on the macro objectives got to me.


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    (Original post by LaurenceWylie)
    Yeah I said about cost-push, but instead of demand-pull I said unemployment would increase as a result of the increased labour-costs and so C would decrease, shifting AD to the left, reducing inflation
    Will talking about increased lending also count?
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    For the 18 marker for saying inflation rate would fall I put : D for X goes down D for M goes up therefore net exports is negative so AD falls, I then put the extent to which would depend on at what point of the AS curve the economy is operating at. I also said ER increasing would be likely to be because of i/r increasing as that would mean more foreign money coming in to save in banks therefore it would be likely that C and I would be falling.

    For the other half I put if the quality of the exports is high it may have no effect also other components of AD may be rising if the economy is booming.

    Think I screwed it up but the rest of the paper was decent does what I put in the 18 marker make sense?
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    (Original post by iggyDash)
    who did the shift to the left Agregate demand curve with c+i+g=(x-m) and c+i+g+(x-m1)

    for the essay
    That's what I did and did a diagram. I then talked about that as its monetary policy there won't be an impact on inflation if its cost push. Then offered a supply side policy, then evaluated that.
    Then I talked about the fact that there are three other components of ad which a fall in exchange rate will have no effect on so said fiscal policy could be used along side. Then evaluated that, needs accurate information
    Talked about PED
    Then for conclusion talked about whether firms actually raise their prices in line with the increase in exchange rate, as there is a little section in the textbook on that


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    (Original post by lisa96)
    Also for the two causes of inflation i wrote demand pull as wages increase hence growth in ad exceeds as, but also cost push since wages are rising. I didn't write about banks lending though
    How does rising wages result in cost push inflation?
    I put demand pull because of rising wages.
    I also put cost push, because of high interest rate, making it more expensive to borrow, so increasing a firm's costs, but I'm not too sure because high interest rated was discussed in the case study but not as a cause of inflation
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    It was an OK I paper. Made some silly errors. Anyone got any idea about grade boundaries?
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    (Original post by iggyDash)
    yes for investment i got 2572bn

    and china 480

    japan 4500
    I got the same! haha I spent a good minute deciding how many 0's were in a billion
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    Oh no, I put savings,imports and dividends! How did I forget tax?!

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    (Original post by Nerd2)
    I got the same! haha I spent a good minute deciding how many 0's were in a billion
    do i get marks if i put 4.8 and 45 ?
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    (Original post by Dezza1994)
    do i get marks if i put 4.8 and 45 ?
    That's what I left it as. I remember looking through a mark scheme before with a calculation and I'm sure they gave you the marks


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    (Original post by Nerd2)
    I got the same! haha I spent a good minute deciding how many 0's were in a billion
    If the correct answer was 480 & 4500 instead of what I wrote, 4800 & 45,000, then you still get 1 mark as long as you stated that Japan's was higher than China's.
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    how much did you guys write for the 18 marker? only 2 sides for me
 
 
 
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