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

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    For the question about the fall in investment, one of my evaluation points was that in the long run the productive capacity will be affected, thus this will have a more significant impact on real output than just a fall in aggregate demand, can this be a valid point to make?

    Question 2 about falling investment
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    (Original post by AJC1997)
    The 30 marker was a dream
    absolutely amazing, wrote like 4 pages fluently, I barely even stopping writing for more than 10 seconds to think LOL. Because I've done that question so many times for past papers hahahaha, and I actually evaluated every point. So I think I will have got 30 for it Peak for anyone who picked question 1, looked horrible haha
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    (Original post by prepdream)
    Wait, so if it is like that, you can still say something like decrease in tax means high employment but conflict with BoP right?
    yeah it wouldn't matter the way you answered it
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    (Original post by AMDD)
    For the causes of the current account deficit I put high inflation and high interest rates and explained them do you think those will be okay?
    i done high inflation and employment going up cuz in the extract it said some firms were hiring people so they werelikely to spend disposable income on luxuries etc etc


    think i done well on that paper like a B maybe an A-definetley 100% sure i got close 30 for the supplyside question
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    (Original post by 98panashe)
    what did you guys get for the components of balance of payments on Q2?
    maybe i remember incorrectly, but didnt it ask specifically what the components for 'the balance of payments current account'?

    I said what the balance of payments was firstly - record of transactions with foreign countries

    then said what the current account consisted of: exports + imports, explained them

    then gave an example: for example china has a current account surplus as it's growth is export led
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    (Original post by ashnutking)
    - What is meant by "investment in 2010 terms" (6)
    - Two factors that caused investment to fall in the UK (8)
    - Effect of price level and real output of falling investment (12)

    - components of balance of payments (4)
    - causes for a deficit in the current account (8)
    - impacts of productivity performance in the UK on the economy (12)
    - supply side polices to increase real output (30)
    I think it was the components of the current account not the balance of payments.
    And the second question was the effect of price level and real output of changing levels of investment between 2008 and 2013. Could you talk about that investment increased from 2008 till 2009 because it says "between 2008 and 2013"?
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    (Original post by jshep000)
    absolutely amazing, wrote like 4 pages fluently, I barely even stopping writing for more than 10 seconds to think LOL. Because I've done that question so many times for past papers hahahaha, and I actually evaluated every point. So I think I will have got 30 for it Peak for anyone who picked question 1, looked horrible haha
    same I filled up every page for it, it was just pure regurgitation of knowledge, didn't like the very first question though, was quite odd imo.
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    (Original post by Achint10)
    yeah it wouldn't matter the way you answered it
    OMG I panicked for a few minutes.
    So basically I said that unemployment decreases but inflation increases if gov spending increases/ more income also means chances of deficit current account.
    then econ growth but pollution/.
    then current account improve but inflation.
    Do you think they seem valid?
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    What was the first question in Q1? What did you guys write?

    I wrote about the increase in the savings ratio right at Quarter 3 but not onwards :s
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    (Original post by jshep000)
    absolutely amazing, wrote like 4 pages fluently, I barely even stopping writing for more than 10 seconds to think LOL. Because I've done that question so many times for past papers hahahaha, and I actually evaluated every point. So I think I will have got 30 for it Peak for anyone who picked question 1, looked horrible haha
    Yeah that's why I picked the entire question......must have written that essay about 30 times in past papers.

    BUT - all the long term stuff is easy. Did you talk much about shorter AD side effects? Or did you just basically stick to the 'these are all long term effects, demand side needed as well blah blah blah....'
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    (Original post by AJC1997)
    maybe i remember incorrectly, but didnt it ask specifically what the components for 'the balance of payments current account'?

    I said what the balance of payments was firstly - record of transactions with foreign countries

    then said what the current account consisted of: exports + imports, explained them

    then gave an example: for example china has a current account surplus as it's growth is export led
    okay i said trade in goods and services and stated Imports and exports then said that x= injection and M= leakage?
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    (Original post by 98panashe)
    okay i said trade in goods and services and stated Imports and exports then said that x= injection and M= leakage?
    exactly, should be perfect. I think I wrote too much for this question, was just 4 marks haha
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    (Original post by Ifuwinuwin)
    What was the first question in Q1? What did you guys write?

    I wrote about the increase in the savings ratio right at Quarter 3 but not onwards :s
    Doesn't it decrease onwards?
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    Did question 1 found the 30 marker easier than question 2
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    so I think I forgot to bring in any application for the 30 marker, does anyone know how many marks I may have lost as a result??
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    (Original post by AJC1997)
    same I filled up every page for it, it was just pure regurgitation of knowledge, didn't like the very first question though, was quite odd imo.
    Yeah I only really struggled on the 4 and 6 marker a little bit. But you could define like 2 terms so it was an easy 4/10 marks minimum for the total of both of them. Then I waffled on about some things I thought were relevant haha.
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    Fantastic 30 marker, shame some of the other questions for Q2 were a tiny bit odd. First one was a little weird
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    (Original post by prepdream)
    Doesn't it decrease onwards?
    Yeah it does but will i get the mark for referencing what happened at Q3 and saying why it increased at Q3?
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    (Original post by AJC1997)
    maybe i remember incorrectly, but didnt it ask specifically what the components for 'the balance of payments current account'?

    I said what the balance of payments was firstly - record of transactions with foreign countries

    then said what the current account consisted of: exports + imports, explained them

    then gave an example: for example china has a current account surplus as it's growth is export led
    This question was asked last year in the R variant! Just look at the mark scheme for confirmation.
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    (Original post by 09ekennedy)
    what did people put for causes of deficit on current account and effects of investment on price level and output?!
    1. Importing a lot due to lack of close domestic substitutes this inelastic demand for imports

    2. Not exporting enough due to decline in competition in manufacturing sector for example, due to increase in cost pressures so can't compete with likes of Far East etc
 
 
 
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