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    For the government spending falling due to long fall in output or whatever it was I put about the economy being demand deficient as output is low so the government spending which is most likely to increase AS is reduced or lower because the economy already has the spare capacity and an increase in the long run aggregate supply will increase it further where it's not needed. We need policies more focused into the demand side. Surely that's right as its a fair argument for saying government spending is lowered as an increase in AS isn't needed but then evaluating that it could be used in a demand sided way?
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    That exam was way harder than last year's exam and it was 47-A last year, it should surely be lower this year?
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    For the 18 marker I spoke about short term and long term economic growth with a PPC diagram. Also mentioned how economic growth does not account for living standards or distribution of income etc etc etc and then spoke about the balance of payments and how it is supposed to balance which could be done in different ways (explained how) and if economic growth can help out but I also spoke about how the balance of payments deficit is not that much of an issue and the reasons why. Also how to reduce unemployment along with the living standards stuff.

    Also for the first question, I spoke about adding a national minimum or living wage???

    Is this broadly right?
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    I think Japan has a NMW wage already
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    for the unemployed in Japan and UK somehow I got 280,000?? what did i do wrong
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    It was 47 for an A in 2014 and 2015 and 49 in 2013. I think it might be 46/7 this year.
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    For State and explain 3 supply side policies using the case study (lines 25-28) could you have said government spending as one of the options?? Also put Cut in corporation tax and Deregulation
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    (Original post by Pato1)
    It was 47 for an A in 2014 and 2015 and 49 in 2013. I think it might be 46/7 this year.
    That's not how it works, they take the average score of everyone who took the exam and make it a C grade, so if the average raw mark was 30 then a C would be 30. So the previous year raw marks for an A are completely irrelevant. :P
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    (Original post by sophie_gamon)
    I don't think so because gov spending isn't a supply side policy it's a fiscal policy, think they were trying to catch us out
    How is government spending not a supply side policy are you saying spending into infrastructure isn't government spending or spending into education and training? That doesn't make sense mate. It can be used for multiple policies
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    (Original post by Realbigboi)
    How is government spending not a supply side policy are you saying spending into infrastructure isn't government spending or spending into education and training? That doesn't make sense mate. It can be used for multiple policies
    Yes government spending on infrastructure is government spending haha. What he's trying to say is g spending can be classed as a supply-side policy depending on what it's spent on. If it's spent on education + training it can be said to be supply-side as it will likely result in more skilled workers and therefore higher productivity - leading to an increase in AS. I do know what the person before is meaning though, referencing changes in general gov spending (increases + decreases) is fiscal policy as in that case the change would be to influence AD, not AS
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    (Original post by sophie_gamon)
    I don't think so because gov spending isn't a supply side policy it's a fiscal policy, think they were trying to catch us out
    Someone didn't revise..
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    i'm seriously worried about my 18 marker evaluation points, can someone please tell me whether I will reach L4 with these?

    So my first point talked about how economic growth lead to a fall in unemployment - but my evaluation was that it depends on the type of unemployment as it may not reduce frictional/structura;/regional etc.

    My second point was on how economic growth on the supply side eg. an increase in productive potential lead to lower demand pull inflation - but my evaluation point was that it may not reduce cost push inflation if costs of raw material/capital increased.

    My third point was a stable balance of payments where exports increased - and my evaluation was that higher consumption from AD may lead to higher imports which will worsen current account but if it is due to an increase in import expenditure on capital/raw material then it may lead to further economic growth in the future which will also reduce inflation and unemployment.

    I don't know whether these are too weak of L4! I know I should have mentioned size/magnitude of growth and spare capacity but I completely forgot (
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    I think your points are fine Alice. Should smash that essay
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    Quote this post with a rating of how difficult you found the exam /10
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    (Original post by Pato1)
    Didn't the case study say the japanese yen brought an unwelcome depreciation???
    Exactly what I thought! 'An unwelcome change' to the yen, which would surely indicate it was a depreciation?
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    (Original post by Learn&MaybeTeach)
    Exactly what I thought! 'An unwelcome change' to the yen, which would surely indicate it was a depreciation?
    With extensive research, you were supposed to say that it was an appreciation based on the figures provided.
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    (Original post by jakei1234)
    For the disadvantages of the claimant count can you say some people may not declare themselves as employed/unemployed so the actual labour force is not known, because people don't want to have things like income tax etc??
    the claimant count isn't the same as the LSF
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    (Original post by law123abc)
    nah financial account
    but it's not about whether hot money is a part of the current account - it's about the impact of hot money i.e. making the price of exports/imports change, which is considered in the 'trade in goods'/'trade in services' part of the current account
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    (Original post by Learn&MaybeTeach)
    the claimant count isn't the same as the LSF
    They likely mean the LFS, and even if not their point is still valid to the question about disadvantages of the LFS (regarding skewing of the data due to factors such as lack of declarations) so would get the marks unless they specifically referenced the claimant count and not the LFS
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    Can someone link a full mark scheme
 
 
 
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