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    (Original post by nnemo)
    Hi there was this question on
    Describing how fiscal policy and supply sode policy can reeuce unemployment ?
    I wrote goverment spending on welfare benefits i. E unemployment benefits can be reduced. But the markscheme said to reduce vat and increase gov spending?
    Can u explain why im worng
    Thnaks
    Your points are not wrong, just not included in the mark scheme. A point which is not included in the mark scheme does not mean that it is wrong.
    Personally I would talk about decrease tax -> increase disposable Y -> increase C -> Increase AD -> Increase employment.
    Decrease tax on profits -> Increase I -> Increase AD.
    Welfare benefit reduction could be one of my point as well, or maybe training and education.
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    (Original post by Jim Riley)
    Geoff is running three exam revision webinars on Saturday evening to help students preparing for the Edexcel AS Unit 2 paper on Tuesday afternoon. Geoff teaches the Edexcel board, so these webinars and videos will be particularly relevant.

    You can register free for these sessions using these links:

    Living Standards and Human Development:
    https://attendee.gotowebinar.com/reg...81584582306818

    Supply-Side Policies in the UK
    https://attendee.gotowebinar.com/reg...69190436815362

    Aggregate Demand & Supply
    https://attendee.gotowebinar.com/reg...68150504756738

    A recording of Geoff's recent webinar on the UK Economy (highly recommended) can be viewed here:
    http://beta.tutor2u.net/economics/re...vision-webinar

    There are also some other revision videos for AS Macro here:
    http://beta.tutor2u.net/economics/re...el=2999&board=

    Jim
    Would just like to bump this so everyone new can see this. The webinar talks are this evening and appear to run from 7pm-10pm which may be late for some but im sure worth it if you need to brush up on your knowledge. Ive been part of his Micro webinars and they really helped me in the paper last week!

    All you need to do is sign up using those links, and you'll be notified when Geoff is going live to teach. Easy peasy!

    Keep it up everyone and continue asking questions!
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    Thanks ISandles for answering my earlier question and i'm afraid i have another one

    So unemployment is defined as a person who is willing and able to work and looking for work but is unable to get a job at the current wage rate, correct?
    and voluntary unemployment is supposedly defined as someone who does not wish to work for example, stay at home parents, so then how is it unemployment if they are not willing to work ?

    if someone could clear this up for me i'd be very grateful
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    exam technique tips? i always do badly in unit 2 compared to unit 1):
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    Literally write stuff step by step and that's the transmission mechanism. So eg
    If people spent more, means more consumption, consumption is component of Ad, Ad increases, output increases inflation increases etc etc

    It is very logical and always before the 30 markers think out your three paragraphs

    Keep it structured and don't forget to use definitions and state the obvious. A lot of the time 2 marks go to stating obvious things like for example erm

    The govt could raise interest rates to lower Inflation.



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    ANYONE-

    difference between standard of life and quality of living??? Xx

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    do we literally only need to know an AS and AD diagram like the reivison sheets suggest?
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    Well its useful for everything really like output gap and all, idk really like look at all the diagrams you've been taught but generally the 30 marker is to do with an AS AD diagram x

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    (Original post by Hortonn)
    do we literally only need to know an AS and AD diagram like the reivison sheets suggest?
    There are other diagrams that you should still know that might come in handy for the exam:

    -The normal Demand and Supply graph
    This may be a macro paper but you will still be awarded marks if a micro graph is drawn but only in the right scenarios. An example for this use would come from a 30 marker looking at policies to reduce unemployment. In this instance you can suggest raising the national minimum wage and show this on a Demand and Supply of Labour graph stating the increase excess supply is even more unemployment.

    -Circular Flow of Income diagram
    This diagram simply shows the flow of money from firms to households and vice versa along with ways the money is removed from circulation (leakages) and put into the circulation (injections). This can be used generally on a question that asks about the multiplier or flow of income. Look online for a visual representation.

    Hope that helps
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    (Original post by ISandles)
    There are other diagrams that you should still know that might come in handy for the exam:

    -The normal Demand and Supply graph
    This may be a macro paper but you will still be awarded marks if a micro graph is drawn but only in the right scenarios. An example for this use would come from a 30 marker looking at policies to reduce unemployment. In this instance you can suggest raising the national minimum wage and show this on a Demand and Supply of Labour graph stating the increase excess supply is even more unemployment.

    -Circular Flow of Income diagram
    This diagram simply shows the flow of money from firms to households and vice versa along with ways the money is removed from circulation (leakages) and put into the circulation (injections). This can be used generally on a question that asks about the multiplier or flow of income. Look online for a visual representation.

    Hope that helps
    arent circular flow diagrams quite complex?

    also could you please explain the multiplier effect to me please! i just dont get it!
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    I haven't needed a circular flow diagram before. Look at Jan 2012 q2 it has a q about circular flow but all u do is explain it. U can draw it but that's a waste of time In my opinion xx

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    Someone got a list or picture of all the transmission mechanisms?
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    can anyone take a look at this paper i completed? im fed up with marking my own as i find im too harsh or easy on myself?
    thank you x
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    (Original post by falloutboyyy)
    I haven't needed a circular flow diagram before. Look at Jan 2012 q2 it has a q about circular flow but all u do is explain it. U can draw it but that's a waste of time In my opinion xx

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    lol, you're totally right about it being a waste of time.
    Id rather just explain it for the two marks from that 2012 paper. It may be a time waster to draw but it's good to know in your mind how it works and what puts money in and takes out of the flow of income.
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    (Original post by Hortonn)
    arent circular flow diagrams quite complex?
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    Here's the diagram if you didnt know what it looked like theres a small description beneath the diagram.
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    Yep haha x

    Could u explain the lorenz curve Pls x

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    (Original post by fatimazahid)
    can anyone take a look at this paper i completed? im fed up with marking my own as i find im too harsh or easy on myself?
    thank you x
    I will if you want me to, message it to me along with what year it is from
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    (Original post by falloutboyyy)
    Yep haha x

    Could u explain the lorenz curve Pls x

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    You sure you need to know it? I don't really think I've ever been properly taught it by my teacher. In what instance is it used?
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    Not a clue haha Idk what it is
    Apparently we don't need it its okay x

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    Could someone give a brief overview of the transmission mechanism please?
 
 
 

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