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**********OFFICIAL OCR ECONOMICS F582 21st MAY 2014 THREAD************ Watch

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    (Original post by joejoejoejoe)
    Surely, because it was how monetary policy could change the equlibrium you could use interest rates twice if one was expansionary and one was contractionary???
    Yes, that was my thinking anyway. Did not mention 'different' policies.
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    (Original post by kingdoo)
    Correct I got the same and I know a lot of people who got that and it is weird because I am not normally good at the maths in economics sometimes you have to scout out for the relevant info in the text. What did you put for the economic growth question in Turkey. Is what I put above similar or has points similar to yours?
    Yeah i know im glad i got them 3 marks. Umm wasnt it the women in labour force sentence there were two points in that sentence that i used. Dont entirely remember but i talked about spare FoP that could be used in the future or something like that. What did you put for the low inflation and unemployment rate one?
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    (Original post by joejoejoejoe)
    Would it be negative because it was a deficit???


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    I was thinking that but i didnt do it in the end. Just left it at 68.04bn
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    (Original post by DoctorDren)
    Yeah i know im glad i got them 3 marks. Umm wasnt it the women in labour force sentence there were two points in that sentence that i used. Dont entirely remember but i talked about spare FoP that could be used in the future or something like that. What did you put for the low inflation and unemployment rate one?
    Well I mainly talked about government spending it said clearly that over countries I think believe that Turkey should cut its large government spending and then put that this increases AD and therefore in the long term investment because the labour force quality increases I used the example of women labour increasing. I then said this increases consumer income as more workers are employed and therefore this = a tripling multiplier effect as all these 3 affect AD as they are all components do you think I will get the marks?

    For the low inflation and unemployment I said from the figures this does seem to be the relationship I put the example for South Korea I think which had the lowest inflation rate and the second lowest unemployment rate by 0.1 or something. I then said this is not what I would expect because low unemployment should correlate with high inflation particularly that of demand pull inflation as low unemployment should result in an increase in AD. I talked about the figures being estimates/we don't know where they were taken plus they were only taken from these 8 countries in one time of 2011 which means we cannot see a pattern over time.
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    Possible grade boundaries for this paper?

    Seeing as people found it quite tough, I'm thinking around 45 for an A
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    (Original post by kingdoo)
    Well I mainly talked about government spending it said clearly that over countries I think believe that Turkey should cut its large government spending and then put that this increases AD and therefore in the long term investment because the labour force quality increases I used the example of women labour increasing. I then said this increases consumer income as more workers are employed and therefore this = a tripling multiplier effect as all these 3 affect AD as they are all components do you think I will get the marks?

    For the low inflation and unemployment I said from the figures this does seem to be the relationship I put the example for South Korea I think which had the lowest inflation rate and the second lowest unemployment rate by 0.1 or something. I then said this is not what I would expect because low unemployment should correlate with high inflation particularly that of demand pull inflation as low unemployment should result in an increase in AD. I talked about the figures being estimates/we don't know where they were taken plus they were only taken from these 8 countries in one time of 2011 which means we cannot see a pattern over time.
    Wow thats almost exactly what i put. I think you'll get full marks as long as the logical chain of reasoning is done properly. I also said that for the inflation rate question. Now thats boosted my confidence
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    (Original post by DoctorDren)
    Wow thats almost exactly what i put. I think you'll get full marks as long as the logical chain of reasoning is done properly. I also said that for the inflation rate question. Now thats boosted my confidence
    Do you mean the one about savings reducing inflation?
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    (Original post by DoctorDren)
    I was thinking that but i didnt do it in the end. Just left it at 68.04bn
    I think either will be acceptable as it's known as a deficit so it's assumed it will be negative I think


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    If i put the defenition of a surplus as net exports greater than net inports will i be capped at level 2
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    (Original post by kingdoo)
    Do you mean the one about savings reducing inflation?
    Nah the question about low inflation with low unemployment
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    For the low inflation and unemployment question, one of my points was the cost of production would be cheaper so firms would increase the size of their workforce, therefore reducing the level of unemployment.

    Is that a valid point?
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    what would be 90 ums ? 48-50 + ?
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    (Original post by A.Zero)
    what would be 90 ums ? 48-50 + ?
    Probably in the range of 49-53


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    (Original post by kingdoo)
    It said for South Korea that consumers spend less of their disposable
    income or something like that so I said this means the multiplier effect is greater in Turkey.

    What did you say for Turkey experiencing rapid economic growth I talked about government spending which has significantly increased output and moreover has been spent on the labour force especially women so therefore the quality of labour has increased increasing investment on workers which increases consumer income as they then have a more disposable income consequently this causes a tripling multiplier effect as government spending investment and consumer expenditure have all increased leading to rapid AD shift to the right and therefore rapid growth.


    i just talked about women in labour force and also about the increase in population and just explained how it increases produitivity
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    (Original post by dre321)
    i just talked about women in labour force and also about the increase in population and just explained how it increases produitivity
    That's what I put


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    (Original post by dre321)
    i just talked about women in labour force and also about the increase in population and just explained how it increases produitivity
    The problem was it wanted you to analyse which means you had to say the step by step way it causes economic growth to increase.
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    Increases labour force size
    productivity increases
    ouput increases
    growth
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    Did anyone else mention the other 2 components of the current account i.e income and current transfers, as i said a surplus primarily due to these (Income and current transfers) would not have an effect on AD thus wouldn't affect the inflation level because (X-M) concerns trade in goods and services. Can someone please tell me if this is correct :/
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    what did people put for the evaluation of the essay Level 4 points?
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    (Original post by Ben_S96)
    With the multiplier, in comparison to South Korea, I picked up from the case study that South Korean households spend/consume less, which is the key element in the multiplier effect. Didn't go further though, question just said why the two might differ. For rapid growth I picked out women entering the work force and growing population. The actual structure of the case study is directly linked to the questions, you can clearly see which part of the study they are talking about and what they want you to mention...I think!
    I said because consumer expenditure was lower in South Korea than in Turkey, yet South Korea had a higher GDP, indicating a larger multiplier
 
 
 
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