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New Spec AS Level OCR Economics:Macroeconomics - 23rd of May watch

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    Was the 4 mark question shift to the right of the demand curve?
    And what was the other way of measuring gdp?(first question in case study)
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    (Original post by koolgurl14)
    Was the 4 mark question shift to the right of the demand curve?
    And what was the other way of measuring gdp?(first question in case study)
    Yep demand shifted outward

    Another way of measuring GDP would be expenditure method
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    (Original post by tsrecon123)
    what is the answer for comparative advantage multiple choice question?
    Neither country will benefit from trade as opportunity costs were the same
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    (Original post by jordancohen)
    Neither country will benefit from trade as opportunity costs were the same
    Phew. I thought so, but exam panic made me consider that country Y may have an advantage. Glad I stuck with D.
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    (Original post by Luiswright31)
    I put 87.5 for terms of trade, 'twas 0.875, couldn't for life of me remember whether it was displayed as an 'index' looking number or a decimal.
    Think the 'good tax' one was equity right?
    No it is durable apparently :/ I put convenient. according to my revision guide you times by 100 for terms of trade, so 87.5 is probably right if you did exports divided by imports * 100
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    (Original post by jordancohen)
    Neither country will benefit from trade as opportunity costs were the same
    Wasn't there an option that stated that one country had an absolute advantage over the over (that's what I put b/c one country could produce more corn per hour than the other iirc).
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    (Original post by rebirth61213)
    Wasn't there an option that stated that one country had an absolute advantage over the over (that's what I put b/c one country could produce more corn per hour than the other iirc).
    I thought it was a comparative advantage option not absolute
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    (Original post by hate0cr)
    What did people write for q18 ?
    I just went through the four macro-economic objectives - decrease in inflation, surplus in current account, rise in unemployment and fall in economic growth
    Then for evaluation I talked about other factors affecting AD (e.g. increase in C on offset AD),
    If the economy is at full capacity employment and economic growth don't fall which is more beneficial to the economy
    And it depends from where the spending is cut - e.g. If cut from education can reduce long-term economic growth
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    For the 20 marker on reducing unemployment without increasing inflation, I wrote that protectionist measures such as quotas on foreign goods will boost domestic firms allowing them to hire more staff therefore reducing unemployment whilst suppressing demand pull inflation. Would that have been completely wrong?
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    (Original post by yelash)
    I thought it was a comparative advantage option not absolute
    I think it was the one that country Y would benefit from trade but country X wouldn't because although they had the same comparative advantage country y made less products than country x
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    What did people get as the unemployment calculation answer?
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    (Original post by marshy12345)
    What did people get as the unemployment calculation answer?
    5%?
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    (Original post by Luiswright31)
    I thought that it was 'equality' not 'equity', I thought of equity as being shares in a company so ruled it out. I guess by definition 'equity' also means equality. Got me that one.
    The answer was complexity, don't know where equity is coming from
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    (Original post by Asad271)
    5%?
    Correct
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    (Original post by Luiswright31)
    I put 87.5 for terms of trade, 'twas 0.875, couldn't for life of me remember whether it was displayed as an 'index' looking number or a decimal.
    Think the 'good tax' one was equity right?
    I put durability
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    Was the measurement question about gdp or employment
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    For the dollar to pound question did anyone get £250
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    (Original post by Maisie987)
    For the dollar to pound question did anyone get £250
    i put 200 but didnt fully understand what it meant
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    (Original post by Maisie987)
    For the dollar to pound question did anyone get £250
    That's what I put too, but I didn't understand why they gave us the initial exchange rate
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    (Original post by Mia66)
    That's what I put too, but I didn't understand why they gave us the initial exchange rate
    Unfortunately, you fell into the trap. The answer is £200, it explicitly says they do not change the price.
 
 
 
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