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Economics Unit 2 Edexcel - Managing the UK economy Tuesday 19th May 2015 (PM) Watch

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    (Original post by JoelAndarakis)
    Who else did the second part?

    The only good part was the 30 marker, the 12 markers confused me so much, what did you guys write?
    Yeah I found the 12 markers confusing too, for the second one my mind just went blank so I only wrote about economic growth forgot about the benefit for the current account
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    Question 2 was about falling productivity wich increases cost push inflation t
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    (Original post by chemistryislove)
    What the hell was the first bit of question 2? I talked about nominal and real values...
    no clue, that question was horrible
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    (Original post by Achint10)
    i did question 1
    Me too! Does anyone know what housing shifts though :O
    The first half of the questions were quite difficult lol i was just blurting stuff out
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    (Original post by Achint10)
    i did question 1
    me too
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    can anyone post all the different parts for unit 2 question 1? even just briefly what they were asking?
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    (Original post by Praveen101)
    Influencing AD causing it to increase or decrease....
    (Original post by Leking9)
    Influence. There are both expansionary and contractionary demand-side policies
    Ok, thank you Was worried for a second
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    (Original post by unimaginable118)
    Me too! Does anyone know what housing shifts though :O
    The first half of the questions were quite difficult lol i was just blurting stuff out
    shift in AD to the Right because of a positive wealth effect
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    (Original post by JoelAndarakis)
    I totally agree with you, that question was completely confusing, when it talked about the price level in 2010 i just reffered to the graph how could you get 6 marks on that....
    I think that meant it was adjusted to inlation in 2010
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    I did Question 1. Quite satisfied
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    (Original post by AJC1997)
    no clue, that question was horrible
    Yeah what the hell was that? I just wrote something about inflation etc.

    For the 30 marker, how much did you talk about demand side boosts? As the questions was on 'real GDP', I'm worried it didn't talk about demand side stuff enough, just potential output and AS shifting.
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    (Original post by prepdream)
    I did Question 1. Quite satisfied
    do you remember what the different parts asked for roughly?
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    Can someone remind me about what the questions were for question 2


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    (Original post by epic within)
    Question 2 was about falling productivity wich increases cost push inflation t
    for falling productivity I talked about the current account deficit - poor productivity compared to other G7 countries would cause a deterioration on the current account as UK exports would become less competitive.

    Also it would cause a decrease in real income as extract 1 said people were accepting lower wages to keep their job, so disposable income/consumer spending would decrease, also firms may lay off workers to cut costs to try and become more competitive so it could lead to unemployment.

    Also if demand decreased at a lower rate than the decrease in potential output (as the uk would be operating in a negative output gap) it would lead to inflation..evaluated all of these eg depends on the level of consumer confidence in the economy.......inelastic demand for labour so.......can't remember everything.

    This would be ok right?
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    for the 30 marker in question 2 what did people write about, did you write about productive potential or productivity or both??
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    (Original post by Eeyeche)
    shift in AD to the Right because of a positive wealth effect
    Do you think I'd get any marks if I shifted AS to the left? cos housing would mean like workers demanding for higher wage and increase in cost of production and etc
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    (Original post by KSIOlajideBT)
    Can someone remind me about what the questions were for question 2

    Posted from TSR Mobile
    Apart from productivity, analyse two other reasons for the cause of the current account deficit (8 marks)....
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    (Original post by Eeyeche)
    do you remember what the different parts asked for roughly?
    I remembered that they asked why saving ratios changed, how house prices affect UK economy, explain monetary policy, how budget deficit affect circular flow of income, why MPC decided to lower interest rates and keep it like that since March 09, how low and stable inflation affects UK economy and 30 markers was how demand-side policies lead to macroeconomics objectives conflicts.
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    (Original post by AJC1997)
    EXACTLY, seriously that first question on question 2 >.> please tell me figure 1 was basically just depicting that from 2008 to 2013 the level of uk business investment had fallen?
    I defined investmebt

    Then said investment fell from 34bn in 2008 to 28bn in 2013
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    (Original post by A-LevelEconomist)
    Apart from productivity, analyse two other reasons for the cause of the current account deficit (8 marks)....
    what were the 12 mark questions again?
 
 
 
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