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    25 mark structure:

    Intro: Definitions. Possible benefits of Exports! Short term growth but perhaps inflation, cost-push from imports. Linked to extract to say a deficit is very bad for economy.

    Para 1: Talk about benefits of exports etc. Macro objectives like decreasing unemployment/ reducing deficit. Ad diagram.
    Evaluation- inflation but depends on output gap. Also depends on economies abroad. Inelastic demand?

    Para 2: cost push inflation fron more expensive imports. And the negatives from that.

    Para 3: Supply side policies best for long run growth, etc. Increasing productivity. Boosting exports without need of depreciation. So no cost push. But time lags, and if in recession s.s.p wont work. Low confidence etc.

    Conclusion: monetary and s.s. Policies need to work in tandem to ensure both short run and long run growth! Meet macro objectives without conflict.
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    (Original post by Sebster98)
    25 mark structure:

    Intro: Definitions. Possible benefits of Exports! Short term growth but perhaps inflation, cost-push from imports. Linked to extract to say a deficit is very bad for economy.

    Para 1: Talk about benefits of exports etc. Macro objectives like decreasing unemployment/ reducing deficit. Ad diagram.
    Evaluation- inflation but depends on output gap. Also depends on economies abroad. Inelastic demand?

    Para 2: cost push inflation fron more expensive imports. And the negatives from that.

    Para 3: Supply side policies best for long run growth, etc. Increasing productivity. Boosting exports without need of depreciation. So no cost push. But time lags, and if in recession s.s.p wont work. Low confidence etc.

    Conclusion: monetary and s.s. Policies need to work in tandem to ensure both short run and long run growth! Meet macro objectives without conflict.
    I DIDN'T MENTION THE MULTIPLIER. AAAAAAAAAARGH.

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    (Original post by Edminzodo)
    I DIDN'T MENTION THE MULTIPLIER. AAAAAAAAAARGH.

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    I didnt either lol but put accelerator effect.
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    Did anyone get 4 D,s in a row for the multiple choice questions
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    how did u guys define unemplyment rate
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    [QUOTE=cutelady;65072715]For those who wrote about A2 stuff in context 1 unemployment 25 mark... You don't get any marks because your not allowed to include A2 stuff in AS, but the other way for A2 where you can use AS knowledge

    Youre wrong. The mark shemes specificaly say they allow a2 content.
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    (Original post by Rose123456)
    Did anyone get 4 D,s in a row for the multiple choice questions

    I remember getting 3 bs then an A then 4 ds but i was unsure about one D
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    (Original post by Anymorefor123)
    Did anyone do context 2 ?


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    If that's to do with defining the unemployment rate yes I did 😀
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    (Original post by Sebster98)
    I remember getting 3 bs then an A then 4 ds but i was unsure about one D
    OMG thank god 😀
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    I am 100% sure your not allowed to include A2 in AS retakes, it's like doing an A2 monopoly diagram in an AS monopoly question on market failure..


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    What was the definition for context 1? I know it was some kind of deficit but can't remember? Pretty sure it wasn't budget deficit, so current account maybe?
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    (Original post by samm98)
    What was the definition for context 1? I know it was some kind of deficit but can't remember? Pretty sure it wasn't budget deficit, so current account maybe?
    It was budget deficit ...
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    (Original post by Rose123456)
    It was budget deficit ...
    Ok thanks. There goes the A )))))))))))))))))))))))))))))))) ))))))))))))))))))))))))
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    (Original post by Rose123456)
    If that's to do with defining the unemployment rate yes I did 😀


    What did you write for the 12
    Marker ?


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    The context 2 25 marker specifically asked how the monetary+fiscal policy would reduce unemployment further. Would you get marks if you talked about how a cut in interest rates decreased unemplyment as a result of increased gdp but also about how the shift in AD affected the BOP (exports decrease as a result of inflation and imports increase as result of increased national income, this would lead to a deterioration of the Balance of payment deficit) since the question only specifies unemployment??
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    (Original post by Anymorefor123)
    What did you write for the 12
    Marker ?


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    I defined spare capacity, I drew the pbb and put point x inside the pbb saying that it shows spare capacity exists, I then spoke about how fiscal supply side policy such as increased spending on education shifts the lras to the right , I drew that too and then I said that inflation is decreasing from pl1 to pl1 and that this also makes us more internationally competitive

    Please tell me you also got something similar
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    (Original post by Rose123456)
    The context 2 25 marker specifically asked how the monetary+fiscal policy would reduce unemployment further. Would you get marks if you talked about how a cut in interest rates decreased unemplyment as a result of increased gdp but also about how the shift in AD affected the BOP (exports decrease as a result of inflation and imports increase as result of increased national income, this would lead to a deterioration of the Balance of payment deficit) since the question only specifies unemployment??

    Yea I talked about that stuff .. But from a fiscal point of view by saying cuts in income
    Tax increases disposable incomes .. Higher AD+ growth e.c.t but limited as we have a high marginal propensity to import and thus doesn't aid the UK economy growth and employment
    Directly


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    (Original post by Rose123456)
    I defined spare capacity, I drew the pbb and put point x inside the pbb saying that it shows spare capacity exists, I then spoke about how fiscal supply side policy such as increased spending on education shifts the lras to the right , I drew that too and then I said that inflation is decreasing from pl1 to pl1 and that this also makes us more internationally competitive

    Please tell me you also got something similar


    I thought the q specifically asked how a reduction in spare capacity would affect inflation .. To be absolutely honest I didn't write enough and wasn't 100% happy with my answer .. But I drew the PPf shifting in wards and then explained with a point inside the PPF going out of it how if actual Growth > the trend rate of growth = demand pull inflation and just revolved my answer around those concepts


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    I don't suppose anyone has their answers for the MCQs or even better access to the paper?
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    (Original post by Anymorefor123)
    I thought the q specifically asked how a reduction in spare capacity would affect inflation .. To be absolutely honest I didn't write enough and wasn't 100% happy with my answer .. But I drew the PPf shifting in wards and then explained with a point inside the PPF going out of it how if actual Growth > the trend rate of growth = demand pull inflation and just revolved my answer around those concepts


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    You can reduce spare capacity by supply side policies right and that would shift the LRAS and so inflation would decrease .... Correct me if I'm wrong guys 😭
 
 
 
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