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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 himynameiskieran)
    Anyone suggesting it's SRAS has missed the point of the question entirely. Deflation is sustained and data from Japan's and the UK's economy would show supply side policies, reforms undertaken by the private sector aimed at improving competitiveness shift LRAS. SRAS is wage rates etc, short run fluctuations.
    Don't spread BS

    SRAS is fine:

    Teefed from Tutor2U

    Shifts in Short Run Aggregate Supply (SRAS)
    Shifts in the position of the short run aggregate supply curve in the price level / output space are caused by changes in the conditions of supply for different sectors of the economy:

    • Employment costs e.g. wages, employment taxes. Unit labour costs are also affected by the level of labour productivity
    • Costs of other inputs e.g. commodity prices, raw materials. The exchange rate can affect the prices of key imported products
    • Impact of government e.g. environmental taxes such as carbon duties & business regulations which affect the costs of production
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    (Original post by himynameiskieran)
    Yeah it's probably right, I was aiming it towards people saying it's solely SRAS when SRAS isn't really relevant.You could also talk about a firms AC shifting downwards.
    Why did i waste my time replying to idiots.
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    (Original post by citibankrec)
    Why did i waste my time replying to idiots.
    Clearly you don't understand the definition of deflation as well as the context of the question.
    'Essentially, the SRAS assumes that the level of capital is fixed. (i.e. in the short run you can’t build a new factory). However, in the short run you can increase the utilisation of existing factors of production, e.g. workers doing overtime.'

    The context was referring to Japan's deflationary periods which haven't been caused by SRAS, the deflation has been caused by structural, long-run factors. To create a sustained period of deflation, the LRAS must shift outwards and will not be achieved by utilising current resources.

    I'd also appreciate it if you'd refrain from calling me an idiot, as all you've managed to do is a quick google search...
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    How are people revising for the last paper?? Really hard to revise for as there's only one example specimen paper
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    (Original post by annelouiseeee)
    How are people revising for the last paper?? Really hard to revise for as there's only one example specimen paper
    There are 2. The 2nd one is on the secure material site from AQA. Tutor2u and APT have released sample papers as well but you need to purchase them.
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    (Original post by annelouiseeee)
    How are people revising for the last paper?? Really hard to revise for as there's only one example specimen paper
    There's a second set of specimen papers ask your teacher to give them to you ?
    If not I'll try and see if I have the file (I think I only have a printed out version)

    Tutor2u and econplusdal have both done videos on paper 3 micro and macro themes check them out
    Make sure you revise cost curves because there's always a tricky multiple choice and all diagrams
    Try multiple choice from old past papers and from any revision textbooks you may have
    Revise definitions for multiple choice

    The 10 mark is essentially a comparison question using the data

    The 15 mark is like a usually15 marker but must have micro and macro explanations

    And the 25 marker is from what my teacher told me you have to pick only one side and justify it

    I'm not revising too much as I have so many other exams and this paper is unpredictable
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    (Original post by physicsamor)
    There's a second set of specimen papers ask your teacher to give them to you ?
    If not I'll try and see if I have the file (I think I only have a printed out version)

    Tutor2u and econplusdal have both done videos on paper 3 micro and macro themes check them out
    Make sure you revise cost curves because there's always a tricky multiple choice and all diagrams
    Try multiple choice from old past papers and from any revision textbooks you may have
    Revise definitions for multiple choice

    The 10 mark is essentially a comparison question using the data

    The 15 mark is like a usually15 marker but must have micro and macro explanations

    And the 25 marker is from what my teacher told me you have to pick only one side and justify it

    I'm not revising too much as I have so many other exams and this paper is unpredictable
    Ahhh thank you so much!!
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    (Original post by physicsamor)
    There's a second set of specimen papers ask your teacher to give them to you ?
    If not I'll try and see if I have the file (I think I only have a printed out version)

    Tutor2u and econplusdal have both done videos on paper 3 micro and macro themes check them out
    Make sure you revise cost curves because there's always a tricky multiple choice and all diagrams
    Try multiple choice from old past papers and from any revision textbooks you may have
    Revise definitions for multiple choice

    The 10 mark is essentially a comparison question using the data

    The 15 mark is like a usually15 marker but must have micro and macro explanations

    And the 25 marker is from what my teacher told me you have to pick only one side and justify it

    I'm not revising too much as I have so many other exams and this paper is unpredictable
    Are you sure? Doesn't seem right at all.
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    (Original post by citibankrec)
    Are you sure? Doesn't seem right at all.
    I am just going by my teacher. The 25 marker asks you to justify your recommendation whether you agree or disagree, my teacher told me you have to pick whether you agree or disagree and justify it

    Is this wrong?
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    (Original post by physicsamor)
    I am just going by my teacher. The 25 marker asks you to justify your recommendation whether you agree or disagree, my teacher told me you have to pick whether you agree or disagree and justify it

    Is this wrong?
    If your going to pick one side and justify it, then it isn't wrong, you just have to make sure you balance it. Justification should include:
    - Answer the question
    - Justify why you think that answer using data and knowledge
    - Balance your argument giving an evaluation

    Therefore just sticking to one side is fine, but you must argue why the other side of the argument might be favoured ie. On the other hand ... could be argued, however I personally recommend ... because I think ...
    Hope this helps
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    (Original post by physicsamor)
    I am just going by my teacher. The 25 marker asks you to justify your recommendation whether you agree or disagree, my teacher told me you have to pick whether you agree or disagree and justify it

    Is this wrong?
    Not sure if wrong but i'm thinking to do the standard 2v1 approach
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    Okay so I've been practicing some multiple choice in preparation for Paper 3 and I feel silly cos I dont understand this index question. I thought the answer was D but the mark scheme says B, could someone explain this please? Sorry it's probably simple but I just dont understand. Name:  1497549904246-1404781695.jpg
Views: 39
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    (Sorry about the scribbles I got frustrated)
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    (Original post by ohgodhelp)
    Okay so I've been practicing some multiple choice in preparation for Paper 3 and I feel silly cos I dont understand this index question. I thought the answer was D but the mark scheme says B, could someone explain this please? Sorry it's probably simple but I just dont understand. Name:  1497549904246-1404781695.jpg
Views: 39
Size:  269.8 KB
    (Sorry about the scribbles I got frustrated)
    Well it can only be A or b due to the 20%
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    (Original post by citibankrec)
    Well it can only be A or b due to the 20%
    Yeah but I don't understand why it's 20%-the index goes from 125 to 100 so I don't know how to get 20% from that. I feel silly
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    (Original post by ohgodhelp)
    Yeah but I don't understand why it's 20%-the index goes from 125 to 100 so I don't know how to get 20% from that. I feel silly
    Percentage change is (new-old)/old *100%

    So it's (100-125)/125 *100% = -25/125 *100% = -20%
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    (Original post by Gemmamcconville)
    If your going to pick one side and justify it, then it isn't wrong, you just have to make sure you balance it. Justification should include:
    - Answer the question
    - Justify why you think that answer using data and knowledge
    - Balance your argument giving an evaluation

    Therefore just sticking to one side is fine, but you must argue why the other side of the argument might be favoured ie. On the other hand ... could be argued, however I personally recommend ... because I think ...
    Hope this helps
    Cheers!!!
    (Original post by citibankrec)
    Not sure if wrong but i'm thinking to do the standard 2v1 approach
    Ah im so confused on what to write. I did a balanced essay in the mock and my teacher slated me and told me I had to pick a side.
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    (Original post by Krystal18)
    Percentage change is (new-old)/old *100%

    So it's (100-125)/125 *100% = -25/125 *100% = -20%
    Ohhh, I get it . I was doing (100-125)/100 *100! Thank you so much, gotta remember not to make that mistake in the exam
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    (Original post by physicsamor)
    Cheers!!!


    Ah im so confused on what to write. I did a balanced essay in the mock and my teacher slated me and told me I had to pick a side.
    In the conclusion you must pick a side, and you cannot sit on the fence in a conclusion. However, throughout the essay you must give a balanced argument otherwise you won't get into the top band. Did you not pick a side in your conclusion in the mock?
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    (Original post by Gemmamcconville)
    In the conclusion you must pick a side, and you cannot sit on the fence in a conclusion. However, throughout the essay you must give a balanced argument otherwise you won't get into the top band. Did you not pick a side in your conclusion in the mock?
    No-one had a clue on how to do the paper, we were literally just given it one lesson we weren't even told lool we had never gone over paper 3, minus like multiple choice so I answered it how I would normally answer my essays
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    I think there is a very good chance financial markets may come up, they have strong macroeconomic links (money supply, monetary policy, systemic risk, investment, savings etc.) whilst also having many examples of microeconomic market failure (asymmetric information, moral hazard, adverse selection, negative externalities, price collusion). It is also quite an obscure area and exam boards like to get new topics (Money & Banking is a new addition to the linear course) in early. Government failure is also prevalent - regulatory capture, over-regulation may lead to lose of jobs or paradoxically higher risk appetite. Finally, it has also very much been in the news. To me it seems very very likely.
 
 
 
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