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    (Original post by Lostrider)
    What did you write? ?

    I mentioned how a depreciation would work and how it appeared to be successful in reducing the deficit over the five years- I probably should have mentioned the Marshall Lerner condition being satisfied but I didn't :/

    And then I said how even though it appreciated in 2007 the deficit actually fell and this might have been due to the recession so lack of demand for imports.

    You could have mentioned how the quality of their exports may have improved- but I didn't

    There's so much more I feel like I should have said but I just get panicky in exams hence why I didn't

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    (Original post by Marshmallow21)
    The wording of the US current account deficit and exchange rate question confused me. I didn't understand what it was asking for.
    trust me! thats one of the reasons im fumingggggggg
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    I got confused with the comparative advantage question. Mostly talked about absolute advantage but did mention how trade would be beneficial and analysed it. What do you think id get?
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    USA current account question horrifically worded, was expecting to be asked why the depreciation didnt have the expected effect :s

    still got in J curve and Marshall Lerner but not sure how applicable it was with what the question was asking
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    (Original post by Lostrider)
    What did you write? ?

    I mentioned how a depreciation would work and how it appeared to be successful in reducing the deficit over the five years- I probably should have mentioned the Marshall Lerner condition being satisfied but I didn't :/

    And then I said how even though it appreciated in 2007 the deficit actually fell and this might have been due to the recession so lack of demand for imports.

    There's so much more I feel like I should have said but I just get panicky in exams hence why I didn't

    Posted from TSR Mobile
    I wrote the same for the first bit and then I mentioned that between 2009 and 2011 the current account depreciated but the current account actually worsened a bit - then said this might have been because of the J-curve effect and recession. I really don't think I answered it right though
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    (Original post by MrCoolVille)
    I got confused with the comparative advantage question. Mostly talked about absolute advantage but did mention how trade would be beneficial and analysed it. What do you think id get?


    why did u talk about absolute advantage?
    what did u write about how trade would be beneficial?
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    (Original post by WillRose)
    USA current account question horrifically worded, was expecting to be asked why the depreciation didnt have the expected effect :s
    trust meeee! the examiners need sorting out its ridiculous you know like im like ask me the question none of this deciphering rubbish u know
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    (Original post by SilverHorsey)
    why did u talk about absolute advantage?
    what did u write about how trade would be beneficial?
    I wrote that a comparative advantage is exploited as world trade barriers are reduced. I drew the trade diagram
    and then said prices fell from p to p1 due to lower labour costs in countries like china, as they exploit this comparative advantage there are benefits for the economy as consumer surplus increases and a greater quantity is consumed so consumer welfare is maximised.

    As a second point, I talked about dynamic efficiency from increasing competition of comparative advantage. As specialisation and competition from trade leads to more R & D there can be greater product innovations from the developed economies such as the USA.
    Hope your exam went well
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    for comparative advantage in terms of an exporting country i talked about dynamic efficiency and economies of scale leading to lower unit costs, more competetive over seas ect

    in term of imports, better quality than they could make them selves, higher standards of living as a result mor consumer choice ectt
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    What was the comparative advantage question?
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    can anyone remember the 2nd four marker question?
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    For the comparitive advantage one there was a range of benefits. I spoke about how there was an increase in fiscal dividends for countries being able to exploit there comparative advantage and also exploitation can result in an increase in the aggregate demand with all the effects of that increase unemployment etc
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    would ease of transportation and improved technology/communication be ok for the first question?
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    Did the terms of trade get better or worse?
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    (Original post by YangSquared)
    can anyone remember the 2nd four marker question?
    It was about HDI and how it had changed
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    what the actual heck, why have i not written the same thing as anybody? hate studentroom lmao always just gets me in a shambles
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    (Original post by YangSquared)
    can anyone remember the 2nd four marker question?
    HDI question. What did you write?
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    r supply side policies equivalent to reforms?
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    (Original post by Realbigboi)
    For the comparitive advantage one there was a range of benefits. I spoke about how there was an increase in fiscal dividends for countries being able to exploit there comparative advantage and also exploitation can result in an increase in the aggregate demand with all the effects of that increase unemployment etc
    I said about them having a cost advantage which enables them to trade at higher prices which the good can be price in elastic.
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    Lmao if you have the econplusdal pack you are getting full marks.
 
 
 
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