Found that questiona blessing tbh.

Work is inferior, leisure is normal

Initially we will sub leisure for work when we have no income, then later our income effect of leisure (normal good) will beat the sub effect.

Reply 7

RabbiKaplan

Ah okay, nice one. What did you write for the essay data response questions?

Reply 8

Rayzor97

Original post by RabbiKaplan

Ah okay, nice one. What did you write for the essay data response questions?

Part E I basically evaluated supply side policies, so benefits/drawbacks of tax/benefit system and time lags in inputting these policies. For part D I just wrote that government intervention is needed to influence the private sector to invest in R+D, think that was the question. What did you write? I think I messed up the price discrimination question in section B though. What diagrams did you draw for section C? I just did LRAS/AD diagram.

Reply 9

RabbiKaplan

Tbh i forgot what question C was. Question D i wrote about R&D being a merit good and discussed govt failure vs private failure. In question E i talked about different government methods to improve productivity and how successful it is.

Reply 10

Kolasinac138

Question D was a merit good/externalities diagram

Reply 11

Rayzor97

What do you think paper 2 and paper 3 will be on?

Reply 12

Kolasinac138

Original post by Rayzor97

What do you think paper 2 and paper 3 will be on?

No way to tell

Reply 13

RabbiKaplan

Which question in paper 3 are you guys studying?

Reply 14

Rayzor97

Original post by RabbiKaplan

Which question in paper 3 are you guys studying?

China, what about you?

MDG

China

You guys ready for tomorrow?

Reply 18

Rayzor97

Original post by RabbiKaplan

You guys ready for tomorrow?

Thought that was pretty good, did public goods, trade unions and comparative advantage. What ones did you do and how you find it?

Reply 19

RabbiKaplan

i did the other 3, inflation, unemployment and demand curve. I thought it was tough but fair. First year I can remember without a theory of the firm question.