Aqa unit 2 economics friday 17 may 2013

Reply 80

wrestlingfan55

What did people put as the definition for context 1? I think it was real incomes.

Reply 81

kenis

4

Original post by Lawlser

He probably is wrong I'm afraid, I was in the exam, wrote a few lines on it, realised it specifically stated Government, and crossed it out.

As you're obviously aware, monetary policy is the MPC therefore no affiliation with the Government so anything he wrote about it would gain no credit.

I think AQA tried to catch people out on that one, that's why they specifically stated Government.

unlucky for him. that's pretty harsh , no credit at all

(edited 10 years ago)

Reply 82

16dan2life

16

Original post by President M.E.

Yeah I got the value of money falling throughout, it was a copy and paste question from another paper

yep

I'd say 65% were repeated questions

Reply 83

stirkee

19

Original post by Lawlser

He probably is wrong I'm afraid, I was in the exam, wrote a few lines on it, realised it specifically stated Government, and crossed it out.

As you're obviously aware, monetary policy is the MPC therefore no affiliation with the Government so anything he wrote about it would gain no credit.

I think AQA tried to catch people out on that one, that's why they specifically stated Government.

The question was what difficulties will the government come across when trying to boost growth right?

I talked about interest rates, but more to do with the demand-pull inflation difficulty and how the gov't could correct that so I think I should be okay. Barely dwelled on interest at all anyway so :biggrin:

Reply 84

Fifi96

Original post by Australia96

I think I have messed up on context 2 on the 12 marker... If i said that interest rates could be decrease and explained how that would effect exports to rise is that basically the same as saying that the exchange rate rising? Because it specifically said do NOT talk about the exchange rate aha anyone? :s-smilie:

lowering interest rates would increase investment in the economy which if spent on capital goods would increase the productivity, decreasing prices, making you more internationally competitive... what you said was right

Reply 85

preyan

For the 5 marker for deficit on current account i said when imports coming into country are greater than exports leaving in value. I then wrote again imports> exports in value. How many marks would that be as i didnt mention good and services. Would i loose marks?

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Reply 86

stirkee

19

Original post by kenis

unlucky for him. that's pretty harsh , no credit at all

what, did he ONLY write about interest rates?

Reply 87

ineedtorevise127

OP

20

Did anyone get an answer on
frictional unemployment
expansionary policy with supply side (something like that)
inside its PPF negative output gap (something like that)
AD increasing due to fall in exhance rate

Reply 88

Dr DaMan

15

Original post by President M.E.

Yeah I got the value of money falling throughout, it was a copy and paste question from another paper

This the one with the table about unemployment and inflation? Or real wages and inflation not sure which? Answer was D was it not?

OP

for mchoice

Original post by stirkee

The question was what difficulties will the government come across when trying to boost growth right?

I talked about interest rates, but more to do with the demand-pull inflation difficulty and how the gov't could correct that so I think I should be okay. Barely dwelled on interest at all anyway so :biggrin:

yup that's the question. lucky. I believe his main point was interest rates

Reply 91

stirkee

19

Original post by kenis

yup that's the question. lucky. I believe his main point was interest rates

ouch.. there was so much more to talk about :/

Reply 92

Lawlser

Original post by stirkee

The question was what difficulties will the government come across when trying to boost growth right?

I talked about interest rates, but more to do with the demand-pull inflation difficulty and how the gov't could correct that so I think I should be okay. Barely dwelled on interest at all anyway so :biggrin:

Ah yes that would be a good argument - the conflicting policies is good evaluation!

Reply 93

kenis

4

Original post by stirkee

ouch.. there was so much more to talk about :/

hmmm. I wrote about supply side and how it could increase economics growth by shifting the ppf curve out and about cuts in corporation tax may improve incentives to invest and expand. however I said this is in the long run so may take time. is that a valid point? I didn't have enough time too write about fiscal supply side and the improve incentives too supply labour. then was gonna evaluate by saying reducing taxes may widen the budget deficit but o well

Reply 94

16dan2life

16

Original post by kenis

what was the answer too question 25?

AQA or Edexcel?
I've seen that both are being mentioned here, I think lol.

If AQA, then it was "institutional structure of the economy" (D?)

Reply 95

stirkee

19

Original post by wrestlingfan55

What did people put as the definition for context 1? I think it was real incomes.

I basically put "incomes adjusted for inflation" and quoted some figures from extract B.

something like incomes went up by 1.6% but inflation was at 4.6% so in reality, people's real incomes went down

something like that :smile:

Reply 96

ineedtorevise127

OP

20

guys did anyone do the export question 25 marker?

I think I flopped it.

I did

Intro- 4 macroeconomic performance - low inflation, low unemployment, eco growth and balance of paymetns equilbirum
mentioned what a deficit means

next I talked about why we need exports to increase because consumption wont rise due to low consumer confidence from previous booms where their debts have increased , investment unlikely to work because firms have tightened their borrowing since sub prime recession, then I said not from government either because austerity measures e.g. 1% cap on salaries on public sector therefore i said exports are needed

Then talked about a fall in exchange rate good for employment and economic growth also should reduce balance of payments deficit
DREW PPF shifting right and AD increasing
Then second choice to reduce imports I talked about a tariff tax on imports drew the diagram
Explained in 2 or 3 lines

Then evaluated both points with extract devaluation is unlikely to work also can cause inflation which would reduce exports in long run
tariff not good because it distorts market mechanism

Conclusion- i said supply side policies best needed to increase exports and reduce imports
gave example of germany who have high labour prodcutviity uk need to adopt same methods used extract again use of supply side
then said however this is unlikely to occur because politicians do not like the idea of short term costs for long term gains therefore the macreococnomic performance may not improve.

Reply 97

stirkee

19

Original post by kenis

hmmm. I wrote about supply side and how it could increase economics growth by shifting the ppf curve out and about cuts in corporation tax may improve incentives to invest and expand. however I said this is in the long run so may take time. is that a valid point? I didn't have enough time too write about fiscal supply side and the improve incentives too supply labour. then was gonna evaluate by saying reducing taxes may widen the budget deficit but o well

yeah, good that you included some evaluation too (long term)

My essay was heavily evaluated so even if some of the interest paragraph was wrong (or not part of the question) then I should be okay for a level 4 answer at least which is all I want really

Reply 98

kenis

4

Original post by ineedtorevise127

guys did anyone do the export question 25 marker?

I think I flopped it.

I did

Intro- 4 macroeconomic performance - low inflation, low unemployment, eco growth and balance of paymetns equilbirum
mentioned what a deficit means

next I talked about why we need exports to increase because consumption wont rise due to low consumer confidence from previous booms where their debts have increased , investment unlikely to work because firms have tightened their borrowing since sub prime recession, then I said not from government either because austerity measures e.g. 1% cap on salaries on public sector therefore i said exports are needed

Then talked about a fall in exchange rate good for employment and economic growth also should reduce balance of payments deficit
DREW PPF shifting right and AD increasing
Then second choice to reduce imports I talked about a tariff tax on imports drew the diagram
Explained in 2 or 3 lines

Then evaluated both points with extract devaluation is unlikely to work also can cause inflation which would reduce exports in long run
tariff not good because it distorts market mechanism

Conclusion- i said supply side policies best needed to increase exports and reduce imports
gave example of germany who have high labour prodcutviity uk need to adopt same methods used extract again use of supply side
then said however this is unlikely to occur because politicians do not like the idea of short term costs for long term gains therefore the macreococnomic performance may not improve.