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    Does anyone have any model answers for the component exam we just did?
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    (Original post by kapisz)
    Does anyone have any model answers for the component exam we just did?

    For which questions?
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    (Original post by Progunners)
    For which questions?
    For all the exam would be nice. But mostly the 8 mark questions if u have them.
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    I can remember all the questions, will that help?
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    (Original post by kapisz)
    For all the exam would be nice. But mostly the 8 mark questions if u have them.
    For the first question when it said 'what is characteristic of an Inelastic cross price elasticity' did you mention that the good was a substitute?
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    (Original post by james..michael)
    For the first question when it said 'what is characteristic of an Inelastic cross price elasticity' did you mention that the good was a substitute?
    yh
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    Guys how did you find it?
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    lets put together the questions

    1) how might income inequality lead to social / economic problems (6)
    2) draw a demand and supply diagram to explain why the interest rate appreciated (4)
    3) should fiscal policy be used to stimulate AD (10)
    4) how might the decrease in the price of oil affect the economy (10)
    5) why has the price of oil decreased (using a supply and demand diagram) (4)
    6) explain how increasing progressive tax will help to reduce income inequality (6)



    B)

    1) what does it mean when it said "figures taken from 2010 prices" (2)
    2) what will happen if an indirect tax of 5% is added to tobacco (10)
    3) draw a demand and supply diagram for cigarettes after the introduction of plain packaging (4)
    4) What are the external costs of growing tobacco and smoking cigarettes (8)
    5) discuss the price elasticity of supply for tobacco (6)
    6) is a subsidy the best way to decrease smoking (10)
 
 
 
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