The Student Room Group

F581/ F582 Economics June 2013

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Original post by Robbie242
Yeah same, I mentioned that if a large amount of goods have already being produced, but there are high prices for exports, and less purchases = less profits -> cost push inflation
I also banged on about a fall in AD causing a fall in unemployment increasing the amount of govt spending devoted to unemployment benefit increasing demand pull inflation
I had lots of evaluation and I thought it was decent but I hope I did bore the examiner

I got the investment contribution right but the Japan one, shows that I clearly can't differentiate by a billion and a million, ended up getting $48 for china and $45 for Japan lol just messed it up completely only 2 marks though.

Yeah same, though I suppose judging on this papers difficulty the boundary for an A will be 46 or 47 so it could be higher than 85ums (for your prediction)


yep definitely agree with you on the grade boundaries , im gonna go as far to say it might drop to about 45 considering the number of idiots in this country that do this subject cos they think it's easy - half of them won't even know the meaning of an exhange rate hahaha

hahahaha i actually had the same problem as you , was getting $48 and $45 and i was like ' da*** this can't be right ' but managed to get it in the end :smile:
Original post by mrdan
Did anyone draw a demand and supply diagram for the 18 marker in order to show how the price of a currency is determined? I didn't but loads of my friends said that did??? all i put was an AD/AS diagram


All I put was the AD/AS diagram, couldn't find a place to throw the currency diagram in at all.
Reply 622
Original post by NedStark
All I put was the AD/AS diagram, couldn't find a place to throw the currency diagram in at all.


I just did it as an introduction to my stronger argument then later threw in the AD/AS diagram. Like I said figure 1 shows that exchange rates are determined by blahblah and then I linked that to my next point.
Original post by NedStark
All I put was the AD/AS diagram, couldn't find a place to throw the currency diagram in at all.


likewise , well an LRAS Diagram in my case but didn;t draw a currency diagram anywhere ( was it needed ?! )
Original post by AtotheT
don't worry about it mate, nearly everyone feels that way. you'll do fine :P what grade are you aiming for?


at a2 an a*...
Original post by mrdan
Did anyone draw a demand and supply diagram for the 18 marker in order to show how the price of a currency is determined? I didn't but loads of my friends said that did??? all i put was an AD/AS diagram


I did an AS and AD diagram and showed changes to both.. There were loads of diagrams you could do really..
for the LRAS Diagram , is the x-axis labelled Real National Output or Real GDP ? i always figured they were the same thing , but the markschemes always say Real GDP so i ended up putting " Real GDP / Real National Output " for safety haha
Reply 627
Original post by Fas
for the LRAS Diagram , is the x-axis labelled Real National Output or Real GDP ? i always figured they were the same thing , but the markschemes always say Real GDP so i ended up putting " Real GDP / Real National Output " for safety haha


I don't think it really matters, they won't penalise you for it that's for sure :P
Original post by Robbie242
I don't think it really matters, they won't penalise you for it that's for sure :P


hahaha gonna say , didn't think they would but theres a few seriously paranoid people in my year :P
Reply 629
Original post by mrdan
Did anyone draw a demand and supply diagram for the 18 marker in order to show how the price of a currency is determined? I didn't but loads of my friends said that did??? all i put was an AD/AS diagram

Yes i did that, but none of my friends did! weird!
Original post by Robbie242
It had to be in the case study as it said briefly china has .... some method, pick ... method and explain whatever it asked

I did increased training


i worte about improving education -.- is that; ok since its increasing quality of labour ... i think i floped now.
Reply 631
Original post by hello my name is
i worte about improving education -.- is that; ok since its increasing quality of labour ... i think i floped now.


I think that may be passed as training in some respects but it depends on your examiner
Original post by Robbie242
I think that may be passed as training in some respects but it depends on your examiner


true -.- , i think i might have got 40 out of 60 -.-
i tottaly ****ed up the causes of inflation question and went on talking about fiscal drag and shoe leather cost -.- i lost full 6 marks there
Original post by hello my name is
i worte about improving education -.- is that; ok since its increasing quality of labour ... i think i floped now.


thats not the same thing - improvements into training and education are different , then again if you get a generous examiner he/she will probably mark you asif education was in the case study :smile: that said , a harsh one.. :frown:

i wrote about the reduction in direct taxes for that one , nice and easy 4 marks haha
Original post by Fas
thats not the same thing - improvements into training and education are different , then again if you get a generous examiner he/she will probably mark you asif education was in the case study :smile: that said , a harsh one.. :frown:

i wrote about the reduction in direct taxes for that one , nice and easy 4 marks haha


Was reduction in direct taxes in the case study? if it was youve no idea how happy youve just made me.
Original post by hello my name is
i tottaly ****ed up the causes of inflation question and went on talking about fiscal drag and shoe leather cost -.- i lost full 6 marks there


Yeah, fiscal drag and shoe-leather costs are consequences (the aftereffect) as opposed to, say, AD increasing at a higher rate than AS (demand-pull inflation) and an increase in wages above inflation (cost-push inflation)
Original post by lufc_dan
Was reduction in direct taxes in the case study? if it was youve no idea how happy youve just made me.


idk but how much marks would be needed for a b
Original post by hello my name is
idk but how much marks would be needed for a b


Depends. Usually its 70% but if more people found this exam easy it might be 43-44 instead of 42
Reply 639
Original post by Fas
thats not the same thing - improvements into training and education are different , then again if you get a generous examiner he/she will probably mark you asif education was in the case study :smile: that said , a harsh one.. :frown:

i wrote about the reduction in direct taxes for that one , nice and easy 4 marks haha


I'm pretty sure the only supply side policies in the case study were privitisation and training- the one's I highlighted anyway. May be wrong but it did say relate to the case study

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