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F581/ F582 Economics June 2013 Watch

  • View Poll Results: How hard did we find this exam ?
    so hard i felt like crying through the exam
    13
    12.50%
    very difficult , but one or two were alright
    13
    12.50%
    fairly standard
    33
    31.73%
    quite easy , with one or two hard ones
    35
    33.65%
    so easy i felt like dancing throughout the exam
    10
    9.62%

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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
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    (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.
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    (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.
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    (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 ?! )
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    (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*...
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    (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..
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    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
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    (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
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    (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
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    (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!
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    (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.
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    (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
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    (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 -.-
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    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
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    (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 that said , a harsh one..

    i wrote about the reduction in direct taxes for that one , nice and easy 4 marks haha
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    (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 that said , a harsh one..

    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.
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    (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)
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    (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
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    (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
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    (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 that said , a harsh one..

    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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