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    Did anyone do the question on the Euro and question on supply side policy for improving balance of trade?


    For Euro question I said 52% of our exports come from UK, therefore if times are good, demand could rise, depending on ped, more elastic and stuff and impact on employment as well
    I also said we cant really get growth from C+I+G at the moment and explained why.
    But we could get growth from BRICS due to countries EU recession e.g. France
    but I said they could be protectionist the BRICS drew diagram and said tariff imposition will reduce exports , negative growth

    all in all, the UK has to improve via supply side measures and make goods/services that consumers actually want then I said countries like germany have shown with expensive goods e.g. luxury cars you could do well in export market. But then I said supply side only long run, opp cost and said maybe the UK is dependent on the EU

    And for the supply side essay on balance of trade it was really difficult

    Talked about education and retraining scheme spending
    a few small evaluation
    then conclusion didnt have time really

    15 mark I talked about
    tarrifs, high exchange rate, and high inflation
    And drew one diagram
    and defined exports/imports and balance of trades deficit
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    For first part second question. What did people get for the working out? Was it something like €2083.3 billion or something? Or is that completely wrong haha
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    (Original post by Lay-Z)
    I thought it was good and correctly predicted standard of living coming up. Can I confirm the question asked what needs to be considered when deciding living standards, eg growth, population size, externalities etc?

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    I wrote about GDP per capita and literacy rates as my two factors. Have I misunderstood the question?
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    (Original post by nadster)
    I wrote about GDP per capita and literacy rates as my two factors. Have I misunderstood the question?
    tbh there all valid reasons so they should all be fine. The question says two factors considered in any assessment of a countries standard of living. Pretty much all countries use the GNP per head to measure standards of living and population needs to be considered for GNP per head so yeah
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    (Original post by Lay-Z)
    Why? I did 1 on both sections

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    The 5 marker was a bit dodgy and I just didn't have a clue on what to write for the 25 marker. Context B however was <3. The question on interest rates was a godsend.
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    (Original post by ineedtorevise127)
    Did anyone do the question on the Euro and question on supply side policy for improving balance of trade?


    For Euro question I said 52% of our exports come from UK, therefore if times are good, demand could rise, depending on ped, more elastic and stuff and impact on employment as well
    I also said we cant really get growth from C+I+G at the moment and explained why.
    But we could get growth from BRICS due to countries EU recession e.g. France
    but I said they could be protectionist the BRICS drew diagram and said tariff imposition will reduce exports , negative growth

    all in all, the UK has to improve via supply side measures and make goods/services that consumers actually want then I said countries like germany have shown with expensive goods e.g. luxury cars you could do well in export market. But then I said supply side only long run, opp cost and said maybe the UK is dependent on the EU

    And for the supply side essay on balance of trade it was really difficult

    Talked about education and retraining scheme spending
    a few small evaluation
    then conclusion didnt have time really

    15 mark I talked about
    tarrifs, high exchange rate, and high inflation
    And drew one diagram
    and defined exports/imports and balance of trades deficit
    Did the same questions as you, and it looks like I put similar points

    I completely agree the second essay question was a lot more difficult
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    (Original post by Lay-Z)
    tbh there all valid reasons so they should all be fine. The question says two factors considered in any assessment of a countries standard of living. Pretty much all countries use the GNP per head to measure standards of living and population needs to be considered for GNP per head so yeah
    Oh okay
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    Anyone who did context 2 EU what was calculation answer for the change in GDP I think..?
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    (Original post by BS95)
    Anyone who did context 2 EU what was calculation answer for the change in GDP I think..?
    Apparently it was 75billion
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    (Original post by BS95)
    Anyone who did context 2 EU what was calculation answer for the change in GDP I think..?
    75bn i think
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    (Original post by newenglandpats)
    75bn i think
    Haha good! That's what I got, just always worry about getting the simple questions wrong!! How'd you find it? I did context 2 then Q on balance of trade, trying find some info on people's answers about that as felt it went average!
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    Context one calculation... What did people get?
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    I did both the second questions - EU and the balance of trade. I thought it went okay, but I always mess up my timings some way and ended up slightly rushing question 10 :confused:
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    (Original post by CLARA_)
    I did both the second questions - EU and the balance of trade. I thought it went okay, but I always mess up my timings some way and ended up slightly rushing question 10 :confused:
    How'd you find them? The section 2 question 1 15 marker was hard I remember, and me, I'd you put in j curve or anything like that?
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    did any one do context1 ? the Q3 is that about the impact on uk as the growth of MENA?
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    (Original post by yoonjeonglim)
    did any one do context1 ? the Q3 is that about the impact on uk as the growth of MENA?
    I did
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    Hi I did context 2 and on the 25 marker talked about for the EU being increased growth in exports as main trading partner etc...... then that increased EU growth will bring stability then increasing confidence which will increase business investment and therefore growth in long andd short run.

    Against were domestically via monetary policy and fiscal policy (expansionary) and emerging economies increasing trade with them acan increase exports and lead to cheaper raw materials leading to cheaper exports

    how does that sound?
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    (Original post by BS95)
    How'd you find them? The section 2 question 1 15 marker was hard I remember, and me, I'd you put in j curve or anything like that?
    I found it okay, I expected a lot worse because I thought the exam in January was a really nice paper! How about you? And I can't remember the question nor what I put :/ sorry! I don't think I drew the j-curve. Do you remember the question?
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    (Original post by nadster)
    Context one calculation... What did people get?
    3% of 2500 was 75
    2500 + 75 = 2575 bn euros

    oops sorry this was context two!
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    (Original post by ahsile)
    3% of 2500 was 75
    2500 + 75 = 2575 bn euros
    that was 2
 
 
 
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