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AQA A-level Economics new 7136 - 06, 13 & 19 Jun 2017 [Exam Discussion] Watch

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    (Original post by CameroSJ)
    For the 9 mark on context 2, I shifted LRAS right instead of SRAS. Will I still get max marks for explaining it well?
    It is LRAS, so you are right!
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    (Original post by Ellielewis17)
    Did anyone do the taxation question?

    I talked about how reducing direct tax shifts out AD/SRAS and the positive impacts of this
    And then said the negative impacts of shifting the tax, and said it's regressive so increases inequality, and said how the government may not raise enough tax revenue so there's a structural deficit and talked about the economic consequences of this
    Not sure if that's right, did anyone else do this essay section?
    Yeah, that's the essay I did, and I included that.

    The only thing I'm worried about is that I did two paragraphs on firms and individuals, and then rushed the paragraph on policy objectives, including very little detail. I don't know how many marks I'll lose if my answer turns out to be too Microeconomics focused...
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    (Original post by physicsamor)
    Holy heeeeeelllll I did not write any of that omg
    I talked about micro finance as a market policy
    Said the affect it would have on quality of life
    Reduce poverty increase access to education increase lr growth blah blah
    But evaluated badly

    Said that protecionism was needed to prevent power of mncs and that goverments had to intervene said something similar but forgot the retaliation point. Talked about goverment failure like it was a micro exam :/

    Talked about privatisation mentioned similar points

    Lol I flopped
    sounds good and better than mine tbh haha
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    ESSAY 1

    15 MARKER
    Define natural rate:
    - equilibrium rate of unemployment
    - AD=AS, diagram to show this
    - no involuntary unemployment, those wanting to work at wage rate are employed
    - only voluntary unemployment
    Policies:
    - Increase minimum wage
    - Reduce income tax
    - Reduce welfare spending
    - Trade union control

    25 MARKER
    Define unemployment - types, how it's measured etc.
    List macroeconomic objectives
    Lay out argument

    Unemployment and inflation
    Lowering unemployment increases disposable incomes
    Increase in consumption, increase in AD
    Cost push inflation
    However:
    - Depends on stage of economic cycle
    - Depends on government policies, rate of interest etc. on how much inflation occurs
    - Talked about saving ratio (4%) being the lowest of all time in the UK at the moment and how this affects the change in inflation

    Unemployment and economic growth
    Define economic growth
    Drew economic cycle
    Identified where lowering unemployment was located on the cycle
    Positive output gap where unemployment is low
    Economy is closer to productive capacity- use of factors of production
    However:
    - Lowering unemployment can be seen as an indicator and a result of economic growth
    - Short vs long run growth when talking about unemployment

    Unemployment and the budget deficit
    Unemployment is lowered through fiscal stimulus
    Occurs during recession to increase AD
    Use of supply side policies
    Budget deficit occurs
    However:
    - How important is a budget deficit? The UK consistently runs one but still has growth
    - How economic growth in the long run is limited due to attempts to reduce the deficit
    - Is it justified to run a budget deficit to increase unemployment and thus AD to recover the economy
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    (Original post by CJEV18)
    India context people what did you write for the 25 marker?
    Defined market based strategies

    Talked about trade liberalisation and globalisation and why its good and bad

    Talked about privatisation being good for efficiency but might exploit consumers.

    Talked about maybe protectionism such as tariffs is useful for protecting domestic firms which may help growth more.

    How about you?
    How good do you think my points are?
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    (Original post by PFD)
    Similar points but not as detailed haha, I wrote a fair bit about MNCs and why they were good for India (jobs, reduction in poverty, tax for government) and then bad (exploiting workers, forcing smaller domestic firms out of business, avoiding tax), evaluated they were overall good and then stressed the importance of the aid ($222 bil?) from foreign countries in improving the infrastructure to attract more FDI and multipler effects. I may have been going down the wrong lines I don't know hahaha
    Oh god I really fill like I fked up. I said yes market forces - through like microfinance
    Improves quality of life, education => development
    I did evaluate

    Talked about the consequence of globalisation for India and said why there needed to be intervention
    Talked about protecionism
    Forgot the diagram
    Sort of evaluated

    Talked about privatisation
    Don't think I mentioned the key points on jobs though
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    Would I still get a high enough mark for writing about globalisation for patterns of trade and how here's more highly skilled worker skills in UK and lowly skilled in LEDCS moved from MEDCS and an example of premier league showing huge transfers paid for players overseas and highly productive workers wanted?
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    (Original post by junky27)
    sounds good and better than mine tbh haha
    Nahhh your essay sounds amazing and makes legit sense omg
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    (Original post by Sam10711)
    Defined market based strategies

    Talked about trade liberalisation and globalisation and why its good and bad

    Talked about privatisation being good for efficiency but might exploit consumers.

    Talked about maybe protectionism such as tariffs is useful for protecting domestic firms which may help growth more.

    How about you?
    How good do you think my points are?
    Yours sounds really good well done! Does mine sound wrong, I am nervous as to whether i am on the right lines

    25 marker- defined the terms

    1st arg- quoted the source on how India were reliant on other countries etc. Did a paragraph on how the government should take control by implementing a tariff. This may make exports more competitive in the domestic economy leading to increase AD.

    evaluated- strong- export led multiplier if the marginal propensity to consume is high and thus development may increase economically by a large extent as incomes would rise. Weak- demand for imports may be inelastic and thus strategic and infant industries may not improve resulting in less development. Final judgement- don't use government approach as tariffs can lead to retaliation which may hinder development and used china and isa devaluation war as example of retaliation.

    2nd arg- market approaches best- free trade and liberalisation- increase movement of MNCs such as Nike. Provide job opportunities in countries like india- increase employment reduction natural rate of employment and larger development

    Diagram- increase supply labour and fall in voluntary unemployment strong- something from source

    weak- keynesiansm argues that the supply of labour may not result in higher employment in these areas if there is a lack of demand and thus keynesian demand side management as a method to improve development is best. Did diagram with fine tuned AD and opt gdp low inflation and max unemployment

    conclusion- supply side policies may be most effective and compared args etc plus LRAS shifting right
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    (Original post by physicsamor)
    Oh god I really fill like I fked up. I said yes market forces - through like microfinance
    Improves quality of life, education => development
    I did evaluate

    Talked about the consequence of globalisation for India and said why there needed to be intervention
    Talked about protecionism
    Forgot the diagram
    Sort of evaluated

    Talked about privatisation
    Don't think I mentioned the key points on jobs though
    Sounds good to me, you've probs done a lot better than you think
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    (Original post by CameroSJ)
    For the 9 mark on context 2, I shifted LRAS right instead of SRAS. Will I still get max marks for explaining it well?
    It is LRAS. Rises in productivity increase overall capacity.
    It could also be SRAS as it reduce business costs
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    (Original post by Arran1109)
    Question is - how are you guys revising for paper 3?? There are only two specimins on what we can base our revision?? We literally have no clue what could come up - Could be from evaluation of the EU to the objectives of a firm???
    2 specimens? Where did you get the other one from?
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    (Original post by WilliamHaycocks)
    It is LRAS. Rises in productivity increase overall capacity.
    It could also be SRAS as it reduce business costs
    I shifted SRAS as it was asking about deflation
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    Essay 2 patterns of trade (15marker) I spoke about trade patterns changing due to brexit making it harder to trade and saying before Brexit there was more free trade benefits (go into detail) and then said how all those benefits have gone due to the uk leaving the Eu. That should be okay as a point right??? What other points could have been said for this?
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    what do u guys think grade boundaries for a or a star will be looking like?
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    What did people put for essay 2 15 markers (the patterns of trade one)
    I wrote about :
    - comparative advantage and how we've lost it in certain industries to other countries etc
    - that we have less demand for exports as we have low labour productivity
    - how inflation recently has hampered our competitiveness
    Does that sound right?
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    (Original post by amukaty)
    guys what did you say or the 15 marker on pattters of trade can you say inflation rate and exchange rate changes??
    I messed my 15 marker up completely - spoke about Thatcherite and deindustrialisation from industrialised to service based economy, the adoption of a floating exchange rate system in 1992 and EU membership (SEM, free movement of labour and capital and free trade) - waffled a lot.
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    (Original post by KingOfDASouf)
    what do u guys think grade boundaries for a or a star will be looking like?
    I think last years were around 58-60 marks
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    (Original post by Madmanecon)
    I shifted SRAS as it was asking about deflation
    It talked about productivity improving which is a shift in LRAS
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    (Original post by brownboy123)
    yeah that's what I got! looking at exemplars i think your essays are limited to 16 marks if you don't talk about 3 or more policies. Can someone confirm this?
    Wtf?

    Are you talking about the one regarding eliminating deflation using monetary policies w/e?
    It's a one policy question not a multi-policy question.
    It asked you to assess and evaluate how effective using the monetary policy is for dealing with deflation or something, so you only needed to talk about the monetary policy and the ups and downs of it, not fiscal/supply side policies. I talked about monetary policy then the two aspects of it - money supply, exchange rate and low interest rates that's it.
 
 
 
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