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    very easy exam, very happy
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    For the terms of trade, I wrote about 2 points: how the terms of trade worsening could have shown:

    A fall in export demand and a fall in AD and so on... hence the fall in price of Zambian exports relative to imports.
    An improvement in Zambia's international competitiveness leading to increased export demand, export revenue, AD...

    What do you think? I really didn't make much application to primary commodities here...
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    Let the F583 grind begin.

    Last years f585 A was 45/60 LOL
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    (Original post by Ecconomist)
    For the terms of trade, I wrote about 2 points: how the terms of trade worsening could have shown:

    A fall in export demand and a fall in AD and so on... hence the fall in price of Zambian exports relative to imports.
    An improvement in Zambia's international competitiveness leading to increased export demand, export revenue, AD...

    What do you think? I really didn't make much application to primary commodities here...
    You needed to make it relevant to Zambia by mentioning its dependency on Primary commodities and how the deterioration of the ToT would affect them more because of this
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    Grade Boundaries are gonna be sky high
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    (Original post by Ecconomist)
    For the terms of trade, I wrote about 2 points: how the terms of trade worsening could have shown:

    A fall in export demand and a fall in AD and so on... hence the fall in price of Zambian exports relative to imports.
    An improvement in Zambia's international competitiveness leading to increased export demand, export revenue, AD...

    What do you think? I really didn't make much application to primary commodities here...
    I did this, should be fine as question didn't mention primary commodities or anything
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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

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    ****!!! I just realised I messed that up!
    I said that the PEDs were inelastic even though it improved! I said that the current account didn't improve as much as it could of. I said the same thing through J curve but this doesn't support what the figure said.. Crap
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    (Original post by coolguy123456)
    I did this, should be fine as question didn't mention primary commodities or anything
    Yeah I would have done it differently on reflection but I don't think application is key right? Just pure 2x3 theory with links of analysis as to why it could be bad (or 1 bad and 1 good in our case). I wrote in so much detail so I'm not worried about the analysis, just whether we were meant to include the dependency on primary commodities and how this would affect Zambia much more...
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    Help please: Could you have put fiscal dividends which is tax revenue and an increase in AD for the comparative advantage question if you were able to exploit it?
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    reduction in size of deficit coincided with financial crisis- is very likely to be a result of a falling surplus on the financial account as lots of savings are withdrawn from the US economy due to uncertainty, exchange rate only fell by 5% which would not cause the deficit to almost half
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    (Original post by Ecconomist)
    Yeah I would have done it differently on reflection but I don't think application is key right? Just pure 2x3 theory with links of analysis as to why it could be bad (or 1 bad and 1 good in our case). I wrote in so much detail so I'm not worried about the analysis, just whether we were meant to include the dependency on primary commodities and how this would affect Zambia much more...
    it didn't say "zambia especially" or with reference to extract so mentioning export prices falling therefore worsened ToT should be fine.
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    (Original post by Realbigboi)
    Dont give up what did you write for the comparative advantage question may have got it right
    I did it differently to what a lot of people have said here, I said about the actual theory of comparative advantage and how when you specialise and then trade you have produce more, using trade ratios and a diagram
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    (Original post by Realbigboi)
    Help please: Could you have put fiscal dividends which is tax revenue and an increase in AD for the comparative advantage question if you were able to exploit it?
    I did this.
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    I have no idea what they want
    (Original post by lulus1)
    I did it differently to what a lot of people have said here, I said about the actual theory of comparative advantage and how when you specialise and then trade you have produce more, using trade ratios and a diagram
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    Pretty sure you were meant to give the strengths and limitations of SSP and then in the conclusion you could offer alternative policies.

    How I did it anyway.
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    For the 2 contrasting par Agatha of ssp I talked about resource nationalisation. Like what econplusdal said?
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    (Original post by coolguy123456)
    it didn't say "zambia especially" or with reference to extract so mentioning export prices falling therefore worsened ToT should be fine.
    Oh okay I'm a bit more confident now. Other than that was fine, except from the last question which I'm really worried about... I analysed two supply side policies overcoming the supply-side constraints and discussed the limitations of each supply side policy before coming to a judgement as to whether supply side policies are the key for promoting economic growth in countries like Zambia. Is this okay or were we meant to talk about demand-side policies and how they may be more effective than supply-side policies in promoting economic growth? If so I'm seriously capped
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    Can someone tell me the exact wording of the comparative advantage question
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    I personally cant see how this would be incorrect
    (Original post by coolguy123456)
    I did this.
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    (Original post by Ecconomist)
    Oh okay I'm a bit more confident now. Other than that was fine, except from the last question which I'm really worried about... I analysed two supply side policies overcoming the supply-side constraints and discussed the limitations of each supply side policy before coming to a judgement as to whether supply side policies are the key for promoting economic growth in countries like Zambia. Is this okay or were we meant to talk about demand-side policies and how they may be more effective than supply-side policies in promoting economic growth? If so I'm seriously capped
    I don't think so, talking about alternatives is giving a judgment and saying what could be better so it would be L4 band 3, L4 is how it's not achieved so talking about supply side constraints to me is the right thing to do.
 
 
 

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