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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 Dezza1994)
    do i get marks if i put 4.8 and 45 ?
    I was going to put that at first, yeah I'm sure they would, as long as you put the currency in front of it and 'bn' at the end of it.
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    I just looked at the actual figures of gdp/capita for the two countries, and the correct answers were infact 4,800 & 45,000 (or there abouts)

    Source: http://www.globalpropertyguide.com/A...gdp-per-capita
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    (Original post by lisa96)
    Since wages are one of firm's cost of production so as wages were rising, so would cost-push inflation as agg supply would shift to the left
    oh yes of course!:banghead:
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    What did everyone put for the reasons why consumer spending was low??

    I put:
    -low confidence
    -high interest rates
    -high income taxes


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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 saving, taxes and spending on imports


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    (Original post by 026neesh)
    What did everyone put for the reasons why consumer spending was low??

    I put:
    -low confidence
    -high interest rates
    -high income taxes


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    I put:
    low consumer confidence
    high rate of interest
    low level of real disposable income
    I don't want to worry you, but it doesn't mention high income tax as influence on consumer expenditure in the OCR book, but I'm sure its right anyway though
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    (Original post by lisa96)
    I need to start revising for the F581 resit now. Is anyone else doing it?
    I am and it's on the same day as my s1 exam.



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    (Original post by 026neesh)
    What did everyone put for the reasons why consumer spending was low??

    I put:
    -low confidence
    -high interest rates
    -high income taxes


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    I said:
    - high interest rates
    - low disposeable income
    - expectations of future events
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    (Original post by 026neesh)
    What did everyone put for the reasons why consumer spending was low??

    I put:
    -low confidence
    -high interest rates
    -high income taxes


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    I didn't relate it to the case study at all.

    I got:
    - Low consumer confidence
    - High interest rates
    - Unemployment

    Thinking about it, unemployment and low consumer confidence were too similar to use together. Oh well.
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    Guys do u remember all the calculation u did for investment? I feel like I got different answer. Cus 35% of real GDP = something they mentioned, so we need to calculation the AD first then 40% of it, right? Or what I wrote is incorrect?


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    (Original post by May-o2q)
    Guys do u remember all the calculation u did for investment? I feel like I got different answer. Cus 35% of real GDP = something they mentioned, so we need to calculation the AD first then 40% of it, right? Or what I wrote is incorrect?


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    China's GDP x 0.4
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    (Original post by May-o2q)
    Guys do u remember all the calculation u did for investment? I feel like I got different answer. Cus 35% of real GDP = something they mentioned, so we need to calculation the AD first then 40% of it, right? Or what I wrote is incorrect?


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    35% was the percentage of GDP made up by consumption; the 40% was the percentage of the GDP made up by investment, which is what it was asking for.
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    (Original post by LaurenceWylie)
    35% was the percentage of GDP made up by consumption; the 40% was the percentage of the GDP made up by investment, which is what it was asking for.
    I got this question wrong then (


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    Do u know how many marks for it?


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    (Original post by May-o2q)
    Guys do u remember all the calculation u did for investment? I feel like I got different answer. Cus 35% of real GDP = something they mentioned, so we need to calculation the AD first then 40% of it, right? Or what I wrote is incorrect?


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    Investment was 40% they mentioned, so wasn't it just 40% of the real GDP?
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    (Original post by lisa96)
    I need to start revising for the F581 resit now. Is anyone else doing it?
    I'll be doing the resit!

    Any idea as to what will come up?:confused:
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    (Original post by Nerd2)
    I put:
    low consumer confidence
    high rate of interest
    low level of real disposable income
    I don't want to worry you, but it doesn't mention high income tax as influence on consumer expenditure in the OCR book, but I'm sure its right anyway though
    high income tax is one mark then leads to low levels of real disposable income meaning less money to spend is probably second mark
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    (Original post by bad_moose)
    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.
    I did exactly the same, the 18 mark question was a bummer, really upset now:banghead:
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    (Original post by Nerd2)
    Investment was 40% they mentioned, so wasn't it just 40% of the real GDP?
    I'm really not sure, cus I was thinking about the Investment in AD component.


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    Are you sure the 3 questions on why consumer spending was low had to be related? I'm sure I read the question and they weren't? (hopefully :|)

    I got high interest rates, low real disposable income and high indirect taxes such as VAT, so if they had to relate I already know I've dropped a mark :|

    for Q1 the three leakages are taxes, imports and savings as someone above said..
    And for the investment question, the answer was 40% or somewhere around like 2500 billion, though I think they wanted the figure, as simply 40% is a pretty easy 2 marker..

    Also, what did people put for the 18 marker, the wording threw me for a while..!?
 
 
 
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