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Real national income questions

Hey guys,

I am confused with these two calculation questions. How about do I go to work these 2 out?

Q5

http://papers.xtremepapers.com/AQA/Economics/2004%20Jan/AQA-ECN2-1-W-QP-JAN04.pdf

Q12

http://papers.xtremepapers.com/AQA/Economics/2005%20Jan/AQA-ECN2-1-W-QP-JAN05.pdf

Thanks :smile:
Reply 1
Avatar for Secret.
Secret.
14
Original post by 16dan2life
Hey guys,

I am confused with these two calculation questions. How about do I go to work these 2 out?

Q5

http://papers.xtremepapers.com/AQA/Economics/2004%20Jan/AQA-ECN2-1-W-QP-JAN04.pdf

Q12

http://papers.xtremepapers.com/AQA/Economics/2005%20Jan/AQA-ECN2-1-W-QP-JAN05.pdf

Thanks :smile:

for question 3
real national income means taking into account inflation.

So National income grew by 14% (adding up values) inflation 11%, subtract them gives you 3%

for question 12
the curve for short run aggregate supply is always upwards sloping to the right, whereas long run is vertical

hope this helps :smile:
Reply 2
Avatar for 16dan2life
16dan2life
OP
16
Original post by Secret.
for question 3
real national income means taking into account inflation.

So National income grew by 14% (adding up values) inflation 11%, subtract them gives you 3%

for question 12
the curve for short run aggregate supply is always upwards sloping to the right, whereas long run is vertical

hope this helps :smile:


Ah, thanks for that. The question 12 bit was for the second link lol :tongue:
Reply 3
Avatar for Secret.
Secret.
14
Original post by 16dan2life
Ah, thanks for that. The question 12 bit was for the second link lol :tongue:



Ah sorry, you would do 5-2.5-0.5 which gives you 2.0% so the answer would be C, less than 2.5% :biggrin:
Reply 4
Avatar for 16dan2life
16dan2life
OP
16
Original post by Secret.
Ah sorry, you would do 5-2.5-0.5 which gives you 2.0% so the answer would be C, less than 2.5% :biggrin:


Thanks a lot
Much appreciated :biggrin:

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