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A level AQA paper 3 multiple choices Watch

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    (Original post by dramanoons)
    what was the unemployment one? a lot of people seem to say it was from q3-q1 but surely it was q2-q1 from the equilibrium point? and then it was between natural and frictional so put frictional but probably wrong
    Unemployment is the number of people out of a job at the going wage rate so when the wage rate is increased and there is excess supply it causes real wage unemployment.
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    i believe that overfishing is right because it shows that the fisherman don't own the waters therefore don't treat it properly
    also i believe nudges is correct as the maximum price would not shift demand from d1 to d2. I also thought that innovation and invention question had nothing to do with services and goods but that was hard
    for comparative advantage question i put b i think but i don't remember the answer
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    Opportunity cost was higher in USA
    Marginal utility falls as consumption increases is the law
    Over fishing
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    Construction shift- better conditions
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    There was an MCQ about the returns to scale being constant. Answers were 500-1000, 1000-2000, 2000-3000 and 3000-4000. I really didn't know what it was so I went for 2000-3000... What did people put?
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    (Original post by steph_diep)
    wtf was tragedy of commons and fishermen I put A something about overfishing idk
    I'm pretty sure A was right,
    Tragedy of the commons is when a lack of property rights result in over consumption
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    What was the max profit output and constant returns
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    you sure the USA one is right? Seem to remember doing something with Brazil
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    Education market failure public good??
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    There was one on a bond price and it's coupon rate... I think I got £120 for that one, but not too sure.
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    (Original post by Darvis)
    There was one on a bond price and it's coupon rate... I think I got £120 for that one, but not too sure.
    I think I put 120 as well just because I was 40 minutes in and needed to start the essay questions When in doubt pick the biggest number, lets hope we were right
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    From what I remember of the ones people are discussing here

    -Bond Price was £120 (something about the formula being £6/5%x100)
    -The answer for the employment question is that it caused real wage unemployment going from Q3-Q1, remember that in practice employers will be at the new equlibrium at Q3 before sacking their workers because of the effect going to Q1 which is by definition real wage unemployment)
    -The only units that were of constant returns to scale were 500-1000
    -I was dumbfounded by tragedy of the commons question as both A (EU fishing policy) and D (tuna fishing) were both examples in the textbook of tragedy of the commons, I'm assuming the way the question is phrased means that D was possibly a negative externality meaning the safer option is A but I honestly don't know.
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    (Original post by Fulham_Fan)
    From what I remember of the ones people are discussing here

    -Bond Price was £120 (something about the formula being £6/5%x100)
    -The answer for the employment question is that it caused real wage unemployment going from Q3-Q1, remember that in practice employers will be at the new equlibrium at Q3 before sacking their workers because of the effect going to Q1 which is by definition real wage unemployment)
    -The only units that were of constant returns to scale were 500-1000
    -I was dumbfounded by tragedy of the commons question as both A (EU fishing policy) and D (tuna fishing) were both examples in the textbook of tragedy of the commons, I'm assuming the way the question is phrased means that D was possibly a negative externality meaning the safer option is A but I honestly don't know.
    I thought the tragedy of commons one was over fishing and depletion of fishing stock
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    (Original post by Simosos)
    I thought the tragedy of commons one was over fishing and depletion of fishing stock
    Yeah it was but the dolphins and tuna fish one was also one that came from the textbook. I put the fish stock one down because I thought the wording made it sound like an externality as a way to trip us up.
 
 
 
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