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    Hey,

    I'm predicted an A for Economics, and thus far my essays all have been pretty much As so i'm sorted in that area, the only reason i'm worried that i may 'fail' Economics is because of multiple choice, to be honest i haven't done too many multiple choice question papers, so far maybe 3 or 4, which is still about 100+ questions, and whenever i do them i seem to get half marks, if that =/

    Reason i hate multiple choice is because when you have questions where there are 2 right answers, but ones more right than the other... i seem to pick the wrong, right one 95% of the time -.-

    Just wanted to know if anyone had any tips with multiple choice.

    Cheers.
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    There aren't enough questions like that to offset the whole thing. If you are going for an A. Multiple choice is very easy. All you do is learn your content inside out (there isn't that much), which is essentially just models, definitions and a few little things. After this, look at old mark schemes to see how these are described. Also you can get marks for saying why you didn't choose an answer e.g if you picked A, in addition to explaining why A is right, you can explain (though just give it one line, usually all it needs) B is wrong. If you need any help just PM me,

    Paul
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    Solve all past papers. You get better with practise for Econ MCQs, plus you'll find that majority of questions are just recycled each year.
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    This is how I did it in January and got 25/25 in multiple choice (although I admit it is easier in micro than macro for multiple choice).

    Get ALL the past papers for your exam board (including old spec because the MC questions never really change) and do them all at least twice (may sound daunting but it actually would only take about 4 hours if your working at the right pace) and then you get better at choosing the right answers and also you can remember most of the questions when they are recycled with different figures. One thing to watch out for is when a question says index numbers, instead of real values, because this can make a huge difference to the answers
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    (Original post by tateco)
    This is how I did it in January and got 25/25 in multiple choice (although I admit it is easier in micro than macro for multiple choice).

    Get ALL the past papers for your exam board (including old spec because the MC questions never really change) and do them all at least twice (may sound daunting but it actually would only take about 4 hours if your working at the right pace) and then you get better at choosing the right answers and also you can remember most of the questions when they are recycled with different figures. One thing to watch out for is when a question says index numbers, instead of real values, because this can make a huge difference to the answers

    What about this :


    Keynesian Analysis National Income: GDP or GNP ?


    Different books say different things.

    Some use GDP for Keynesian analysis of NI, some use GNP.

    I think it should be GDP since you can only directly influence the econonmy through domestic AD management which is confined to the national economy thus GDP.

    If it were GNP, this would include net asset incomes from abroad, and this cannot be directly influenced by government intervention in AD. The factors of influence would be supra national.

    Your comments please.
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    (Original post by Txi)
    What about this :


    Keynesian Analysis National Income: GDP or GNP ?


    Different books say different things.

    Some use GDP for Keynesian analysis of NI, some use GNP.

    I think it should be GDP since you can only directly influence the econonmy through domestic AD management which is confined to the national economy thus GDP.

    If it were GNP, this would include net asset incomes from abroad, and this cannot be directly influenced by government intervention in AD. The factors of influence would be supra national.

    Your comments please.
    I agree that GDP is a better tool for analysis in this sense, whilst foreign assets are important I think that we can only see the full picture of how our economy is performing when including the output of foreign firms within the domestic boundaries, it shows our attraction to businesses relative to other economies which would not be accounted for in GNP. The study of macroeconomics deals with what needs to be done inside the country, not what needs to be done to help foreign economies.
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    (Original post by tateco)
    I agree that GDP is a better tool for analysis in this sense, whilst foreign assets are important I think that we can only see the full picture of how our economy is performing when including the output of foreign firms within the domestic boundaries, it shows our attraction to businesses relative to other economies which would not be accounted for in GNP. The study of macroeconomics deals with what needs to be done inside the country, not what needs to be done to help foreign economies.
    True but I don't know if you know that a lot of text books are actually confused on this point and some claim that GNP is the one that should be used in Keynesian domestic AD management.

    So much for ' experts ' eh ?
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    (Original post by Txi)
    True but I don't know if you know that a lot of text books are actually confused on this point and some claim that GNP is the one that should be used in Keynesian domestic AD management.

    So much for ' experts ' eh ?
    I wouldn't agree with the use of GNP in that sense, but I am only AS-level so I suppose I'm not exactly qualified to dispute them
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    (Original post by tateco)
    I wouldn't agree with the use of GNP in that sense, but I am only AS-level so I suppose I'm not exactly qualified to dispute them

    No need to be cagey dude.

    Got an opinion spit it out.

    Econs is far less a science than you think, trust me.
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    (Original post by Txi)
    True but I don't know if you know that a lot of text books are actually confused on this point and some claim that GNP is the one that should be used in Keynesian domestic AD management.

    So much for ' experts ' eh ?
    Lol, you're so smart why haven't you won the nobel prize yet?
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    (Original post by Txi)
    No need to be cagey dude.

    Got an opinion spit it out.

    Econs is far less a science than you think, trust me.
    No need to be aggressive dude
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    some banter
 
 
 
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