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    My teacher is going I complain about the income inequality definition. Its on the unit 3 specification next year, not this year!
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    (Original post by FHL123)
    My teacher is going I complain about the income inequality definition. Its on the unit 3 specification next year, not this year!
    I'm sure for AQA you still have to study income inequality as a market failure in AS Economics

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    GUYSS LISTEN UPPP THIS CAN BE HELPFUL FOR EVERYONE, does anyone have the current statistics that are needed for the exam. The current stats for unemployment, inflation, economic growth. By using these stats in the exam you can score higher marks so please post them up on here because I have looked everywhere and I cant find anything. I know that the current inflation rate in 0%.
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    (Original post by jampot98)
    I'm sure for AQA you still have to study income inequality as a market failure in AS Economics

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    Yes, both income inequality and monopoly come up in unit 1, but you don't look at it in any real technical details until unit 3. Quite a tricky paper all in all.

    Tom (IDK-tuition.com, free online economics videos and resources)
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    (Original post by KimberlyKumar)
    GUYSS LISTEN UPPP THIS CAN BE HELPFUL FOR EVERYONE, does anyone have the current statistics that are needed for the exam. The current stats for unemployment, inflation, economic growth. By using these stats in the exam you can score higher marks so please post them up on here because I have looked everywhere and I cant find anything. I know that the current inflation rate in 0%.
    All on here http://www.tradingeconomics.com/unit...dom/indicators
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    WE havent really solidly nailed the essays of Macro (I have a general understanding of it) but not to the same standard as micro. Can someone briefly show me a generic exam plan with an example question? It would be much appreciated
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    (Original post by Curtis1234)
    WE havent really solidly nailed the essays of Macro (I have a general understanding of it) but not to the same standard as micro. Can someone briefly show me a generic exam plan with an example question? It would be much appreciated
    Here's one its just missing diagram's


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    (Original post by Curtis1234)
    WE havent really solidly nailed the essays of Macro (I have a general understanding of it) but not to the same standard as micro. Can someone briefly show me a generic exam plan with an example question? It would be much appreciated
    And another one

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    Thanks so much, Im just gonna make notes on each one
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    gosh - im so gutted about this exam,
    i did context two
    for the 25 marker i just talked about how the energy that cars use and produce is a demerit good and therefore produces negative externalities ( drew a neg externalities digram showing how magical private benefit is a greater amount than magical social benefit)
    I then talked about how the rationing and signally and incentive function would work in this case , because of the commodities of oil , coal and gas is cheap producers would keep on using this however as it there is a decreasing supply , and excess demand they will increase pieces and this would provide a incentive to consumer not to consumer anymore but as the process go high their will rationing - however the downside of the free market forces of controlling the energy and car industry they will fail to take into account the externilties that are being producing and therefore harming the environment ....

    i then wrote a para on subsiding renewable nuclear power stations as it was mentioned in the data as its expensive and therefore producers are less likely to buy it from suppliers however if government subside then the prices will be cheaper and therefore more supply and more usage - however time lag , fossil fuel inelastic as its time and less time consuming and we as humans have high propensity to consume theses necessities

    then a para on regulation on fossil fuels that used for car energy production and however point on it being to lax or to tight



    then leaving to free market creates more damage and therefore should use combination of subsidy and regulation on fossil fuels as this would remove the negative externalises and promote renewable energy
    and alternative could be education on how bad fossil fuel is and how bad it is for the environment
    however depends on government information and mag and time lag


    please tell me if this is even correct
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    On the 2nd essay when you mention about how rising consumption is only beneficial when there is spare capacity. Could I mention about the Keynsian diagram illustrating y1-y2 to be only beneficial in recessions/slumps.
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    (Original post by Curtis1234)
    On the 2nd essay when you mention about how rising consumption is only beneficial when there is spare capacity. Could I mention about the Keynsian diagram illustrating y1-y2 to be only beneficial in recessions/slumps.
    Sorry these essays aren't written by me, my teacher gave them to me.
    But yes I think the diagram you would illustrate that point with would be a Keynesian long run AS curve. So during the flat part of the curve, where there's spare capacity increasing AD will increase GDP without a trade off with inflation.
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    If this helps anyone, this is a rough break down of ECON2 my teacher did for the class.

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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 ECON2 paper on Tuesday afternoon.

    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
    Are these free


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    (Original post by Supermanxxxxxx)
    Are these free

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    Yes they are, some of the times have changed for them though
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    (Original post by jampot98)
    If this helps anyone, this is a rough break down of ECON2 my teacher did for the class.

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    Thanks man my teacher is horrible, he gave us essay for homework and lots of booklets a week before the exam. Worst thing is he made us mark them, my friend had no clue what to give my essay so now im cramming econ 2 crazy.
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    (Original post by whydoidothis?)
    Thanks man my teacher is horrible, he gave us essay for homework and lots of booklets a week before the exam. Worst thing is he made us mark them, my friend had no clue what to give my essay so now im cramming econ 2 crazy.
    No way! That's terrible.
    if you're revising everything yourself, use tutor2u its really helpful. Here's a link to study notes for macro:
    http://beta.tutor2u.net/economics/re...-topic-listing

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    Can someone explain why it is A, I thought money supply was an instrument of Monetary Policy?
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    Would it be due to the fact that less money supply would create a budget surplus? ie reducing AD?
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    (Original post by Curtis1234)


    Can someone explain why it is A, I thought money supply was an instrument of Monetary Policy?
    Wouldn't a loosening fiscal policy be D?

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