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    Can anyone confirm whats the relationship between inflation + exports/imports?
    If country X has higher inflation country Y, assuming certius paribus will this mean X will likely to import more to Y ?

    Thanks =)
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    (Original post by Jkizer)
    Can anyone confirm whats the relationship between inflation + exports/imports?
    If country X has higher inflation country Y, assuming certius paribus will this mean X will likely to import more to Y ?

    Thanks =)
    X is likely to import more and export less because of international competitiveness


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    I think a good thing to keep in mind is that exam questions (For AQA anyway) are planned roughly 18 months in advance, meaning (Theoretically of course) that there is a possibility that developments occurring that long ago may potentially come up.

    Maybe some of you know some economic developments happening that long ago?
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    how do you answer the 40 mrk question .URGENT HELP
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    (Original post by riri :))
    how do you answer the 40 mrk question .URGENT HELP
    is it not just a 30marker?
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    (Original post by riri :))
    how do you answer the 40 mrk question .URGENT HELP
    Definitions, diagram
    Point 1
    Evaluate point 1
    Point 2
    Evaluate point 2
    Point 3
    Evaluate point 3

    For the 30 marker at the end of an edexcel paper
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    does everyone instantly think of points for the 30 markers. I noticed im bit slow of thinking of the 2nd and 3rd point :/
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    (Original post by Boy_wonder_95)
    Yh either deregulation or privatization.
    All I've got in my notes is 1980s Margaret Thatcher, didn't lead to improvements in railways or water supply blah blah blah, and I would something a bit more... evaluative (couldn't think of a better word )
    Be careful about bashing Thatcher's policies, might get a "Iron Lady" nut as an examiner :lol:

    (Original post by Bhudsz)
    What do you guys think is likely to come up this year? according to recent data and stuff in the papers and the news?
    When you look at the sources for extracts in exam papers you can see that they are mostly from 12-18 months ago. Therefore recent events are less likely to make up the paper.
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    (Original post by QwertyG)
    does everyone instantly think of points for the 30 markers. I noticed im bit slow of thinking of the 2nd and 3rd point :/
    I'm incredibly slow at thinking of application for evaluations points. For general ideas I just go through the extract or pick out words from the question really.
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    (Original post by QwertyG)
    does everyone instantly think of points for the 30 markers. I noticed im bit slow of thinking of the 2nd and 3rd point :/
    i have 3 points for fiscal policy, 3 for monetary policy, 3 for supply side policy. then just link to question, and question allows for mixture of policies then use strongest points
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    What would you do in this situation?

    Q1
    Good 30 marker that you could write alot about however the 8/12/14 markers confuse the hell out of you

    Q2
    Horrible 30 marker that makes no sense to you however you know you could get high marks in the 8/12/14 markers

    What would you pick? The 30 maker is important obviously but if you cant do the rest of the paper what good is it.
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    (Original post by Turbintajj)
    Thank you!

    the components are the same but what about the way they are measured?
    life expectancy - average no. of yrs before death
    adult literacy- mean no. of years spent in school/expected no. of years expected in school
    is that correct?
    yeah life expectancy has infant mortality rates and education is spot on :P

    (Original post by Boy_wonder_95)
    Yh either deregulation or privatization.
    All I've got in my notes is 1980s Margaret Thatcher, didn't lead to improvements in railways or water supply blah blah blah, and I would something a bit more... evaluative (couldn't think of a better word )
    Majory of firms have already been privatised so this option isn't really available
    Also in deregulation firms may take advantage of their 'freedom' by using less efficient technology thus although growth increases so does co2 emission which conflicts with the macroeconomic objective on concern for the environment.

    Finally a point for all supply side is that if AD crosses at the elastic part, an outward shift has no effect and the output gap increases further.
    (if you draw the diagram you'll get it)

    uhm.. don't really know any more!
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    (Original post by Turbintajj)
    i have 3 points for fiscal policy, 3 for monetary policy, 3 for supply side policy. then just link to question, and question allows for mixture of policies then use strongest points
    I have 3 points for SSP (tax breaks, education and deregulation) :/

    What 3 points do you have with fiscal and monetary policy?

    for monetary policy -

    interest rates going up = fdi/hot money increases = demand for exchange goes up = SPICED = UK MPI = CA worsens but financial account goes up.

    Interest rate going down = more confidence to spend = AD goes up = more jobs = more wages = more spending = inflation = trade off between unemployment and inflation (draw phillips curve) = eval: AS is vertical in LR and stagflation occurs so trade off doesnt exist.


    for fiscal policy

    tax goes down = more incentive for people to work = eval: income inequality can occur (shown on kuznet curve)

    tax goes up = disincentive to work (shown on laffer curve)

    I have no points for government policy at the moment :///
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    (Original post by mrs_usher4)
    What would you do in this situation?

    Q1
    Good 30 marker that you could write alot about however the 8/12/14 markers confuse the hell out of you

    Q2
    Horrible 30 marker that makes no sense to you however you know you could get high marks in the 8/12/14 markers

    What would you pick? The 30 maker is important obviously but if you cant do the rest of the paper what good is it.
    I am resitting because I went for the second option the first time. the exam is approx 1 mark a minute. so you want to nail the 30 marker in 30mins max, but if you choose a terrible 30 marker you'll need to spend way longer on it and probably lose many marks if you think it is a horrible question.
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    (Original post by mrs_usher4)
    What would you do in this situation?

    Q1
    Good 30 marker that you could write alot about however the 8/12/14 markers confuse the hell out of you

    Q2
    Horrible 30 marker that makes no sense to you however you know you could get high marks in the 8/12/14 markers

    What would you pick? The 30 maker is important obviously but if you cant do the rest of the paper what good is it.
    30/80 = 37.5%
    50/80 = 62.5%

    Logic tells you to go to the section where most marks are accessible!
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    (Original post by QwertyG)
    I have 3 points for SSP (tax breaks, education and deregulation) :/

    What 3 points do you have with fiscal and monetary policy?

    for monetary policy -

    interest rates going up = fdi/hot money increases = demand for exchange goes up = SPICED = UK MPI = CA worsens but financial account goes up.

    Interest rate going down = more confidence to spend = AD goes up = more jobs = more wages = more spending = inflation = trade off between unemployment and inflation (draw phillips curve) = eval: AS is vertical in LR and stagflation occurs so trade off doesnt exist.


    for fiscal policy

    tax goes down = more incentive for people to work = eval: income inequality can occur (shown on kuznet curve)

    tax goes up = disincentive to work (shown on laffer curve)

    I have no points for government policy at the moment :///
    Fiscal- expansionary
    reduction in income tax
    reduction in coporation tax
    increase in gov spending

    monetary- expansionary
    reduce interest rates effect on consumption
    reduce interest rates effect on investment
    reduce interest rates effect on net exports
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    I've come across this question from the Jan2012 paper and was wondering if anyone could help me out?

    Evaluate the likely impact of higher inflation on 3 macroeconomic objectives.
    My first point is that higher inflation could lead to an increase in unemployment because factors of production increase which may mean that firm will have to make some of their employees redundant.
    Could I then evaluate this point using the phillips curve and say that according to the phillips curve High inflation=low unemployment? This evaluation point wasn't in the mark scheme....so im not too sure if it's right.
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    (Original post by roseanne_12)
    I've come across this question from the Jan2012 paper and was wondering if anyone could help me out?

    Evaluate the likely impact of higher inflation on 3 macroeconomic objectives.
    My first point is that higher inflation could lead to an increase in unemployment because factors of production increase which may mean that firm will have to make some of their employees redundant.
    Could I then evaluate this point using the phillips curve and say that according to the phillips curve High inflation=low unemployment? This evaluation point wasn't in the mark scheme....so im not too sure if it's right.
    I would think that is right. I used this as an evaluation too and my teacher awarded marks for it
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    (Original post by Jack_Smith)
    I would think that is right. I used this as an evaluation too and my teacher awarded marks for it
    That's good to hear thanks for your help.
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    (Original post by tigerz)
    yeah life expectancy has infant mortality rates and education is spot on :P



    Majory of firms have already been privatised so this option isn't really available
    Also in deregulation firms may take advantage of their 'freedom' by using less efficient technology thus although growth increases so does co2 emission which conflicts with the macroeconomic objective on concern for the environment.

    Finally a point for all supply side is that if AD crosses at the elastic part, an outward shift has no effect and the output gap increases further.
    (if you draw the diagram you'll get it)

    uhm.. don't really know any more!
    Those are some really good points thanks! And good luck tomorrow, I'm sure you will doing amazingly with your knowledge
 
 
 
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