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Economics Unit 2 prediction for 17th may 2013 :) watch

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    Can someone say how you would get all marks on question 2 please
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    (Original post by tigerz)
    TRUST too long! and I do Maths, economics, chemistry and psychology wbu?

    Haha i do Accounting business and economics, dropped sociology at the beginning haha load of crap if you ask me


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    (Original post by Brandon_RNS)
    Haha i do Accounting business and economics, dropped sociology at the beginning haha load of crap if you ask me


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    Haha, I feel that way about several subjects :bebored:
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    (Original post by Danny457)
    Can someone say how you would get all marks on question 2 please
    Nobody could possible know yet because the mark scheme isn't out.


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    (Original post by pop101)
    I put down 177 as well. Because I assumed base rate was the original (100%). Then I did the %change thing and got 277, then subtracted 100 to get the actual increase which came to be 177.77778.
    I hope we get some marks for that, considering we did so some working out (they definitely give marks for workings out on calculation questions even if the final answer is wrong).
    Yeah I hope so too, hopefully like 2-3 marks do you think?


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    (Original post by shabba-ranks)
    Yeah it happens across all subjects. If the exam board see that way more people have been successful on question 2, they will either mark more stiffly there and/or the value of raw marks coverted to ums in question 1 will be increased. Basically they will mark more leniently. They have to do this so that they get a spread of grades.

    So don't give up hope people that answered q1!

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    Is there any way of knowing whether they have done so when the results come out? Like would they tell us that they added bonus ums?


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    (Original post by Dilzo999)
    Grade boundaries people? I'm thinking on the lines of 60-65 for an A but again a lot of people did Q2 and Q1 was a bit more tricky imo.
    No way!! The hard part about Q1 was mainly the first question! The Q1 30 marker was SO easy! The 2nd 30 marker one was so hard
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    (Original post by NabRoh)
    I only drew a standard AD/AS diagram. Did you draw another type?
    yeah i drew two outwards shift for the ppf and lras, but an as shift to the right on a normal ad/as diagram should probably be fine
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    How can people be saying grade boundaries are going to be 60-65?! Was I the only one who thought this paper was FAR harder than any of the practise papers?!
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    It was similar too, if not slightly easier than, January this year IMO.


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    My friend said he did Income tax, corporation tax and Education for the 30 marker, how many marks will he get?
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    I reckon 62 for an A


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    (Original post by ljh950912)
    I reckon 62 for an A


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    Ditto. That's Edexcel's go to mark for an A.
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    (Original post by Dilzo999)
    My friend said he did Income tax, corporation tax and Education for the 30 marker, how many marks will he get?
    For question 1?

    Income tax isn't a supply-side policy (it increases AD).

    There other points are good, but obviously the marks depend on how well developed & evaluated they were, as well as the structure of the answer.

    Its pretty hard for us to tell.
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    Does unit 4 stuff get marks? I mentioned Laffer curve and the Kuznet curve to evaluate
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    Income tax can act as an incentive for people to start work- they can keep more of their earnings.


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    I chose question 1 , it was pretty straightforward except for the question on what causes changes in oil prices due to the world economy. Probably around 60 for A. My answers were;

    1ai)278
    aii) Global recession and confidence of consumers and businesses cause changes in oil prices
    iii) AS shifts inwards, leads to high prices, decline in growth and higher unemployment and then evaluate

    bi)X<M
    ii) persistent trade deficit leads to AD shifting in due to leakage. Leads to lower prices and decline in growth
    iii) fall in pound means more price competitiveness so boost in exports therefore reduction in trade deficit, -plus evaluation and diagrams

    c) corporation tax reduction leads to more investment, spending on education to boost productivity, abolishing NMW to reduce cost of production for firms leads to more employment/investment in capital plus evaluation for all
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    (Original post by iwant)
    I chose question 1 , it was pretty straightforward except for the question on what causes changes in oil prices due to the world economy. Probably around 60 for A. My answers were;

    1ai)278
    aii) Global recession and confidence of consumers and businesses cause changes in oil prices
    iii) AS shifts inwards, leads to high prices, decline in growth and higher unemployment and then evaluate

    bi)X<M
    ii) persistent trade deficit leads to AD shifting in due to leakage. Leads to lower prices and decline in growth
    iii) fall in pound means more price competitiveness so boost in exports therefore reduction in trade deficit, -plus evaluation and diagrams

    c) corporation tax reduction leads to more investment, spending on education to boost productivity, abolishing NMW to reduce cost of production for firms leads to more employment/investment in capital plus evaluation for all
    for ii. (effect of low sterling on current account deficit) the question said refer to extract 1, but extract 1 said that the depreciation in the exchange rate didn't cause the deficit to improve and that imports were still high and exports low because of other non price factors. did u mention that?
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    (Original post by iwant)
    I chose question 1 , it was pretty straightforward except for the question on what causes changes in oil prices due to the world economy. Probably around 60 for A. My answers were;

    1ai)278
    aii) Global recession and confidence of consumers and businesses cause changes in oil prices
    iii) AS shifts inwards, leads to high prices, decline in growth and higher unemployment and then evaluate

    bi)X<M
    ii) persistent trade deficit leads to AD shifting in due to leakage. Leads to lower prices and decline in growth
    iii) fall in pound means more price competitiveness so boost in exports therefore reduction in trade deficit, -plus evaluation and diagrams

    c) corporation tax reduction leads to more investment, spending on education to boost productivity, abolishing NMW to reduce cost of production for firms leads to more employment/investment in capital plus evaluation for all
    'Persistent' deficit doesn't cause a shift in AD.


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    (Original post by Skaterkid)
    Does unit 4 stuff get marks? I mentioned Laffer curve and the Kuznet curve to evaluate
    Some examiner reports feature answers where such knowledge were credited.
 
 
 
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