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    :ymca: hey people, im struggling with unit 6 and need help on the following

    Phillips curve: what to write in an essay question
    "evaluate the view that the phillips curve is redundant" (60)
    "To what extent might the pursuit of full employment conflict with other economic objectives" (60)

    Public expenditure: what do i need to know

    What is purchasing power parity
    what is the real exchange rate and how much do i need to know about it.

    "Examine the impact of the eu's common agricultural policy on the world trade of agricultural goods" (40)

    "Evaluate the likely implications for the world economy of the
    predicted decline in non-renewable energy resources." (60)

    Evaluate the likely economic effects of a decision by the
    UK to withdraw from the European Union. (60)

    "In 2000/01 the UK’s public expenditure was 37 per cent of GDP. This is forecast to increase to over 42 per cent of GDP by 2007/08. Examine the likely economic implications, apart from increased taxation, of this trend. (60)

    thanks, and by the way just so its not long for you people, u dont need to give full explanatiosn, just what i shudl include in these essays. HOWEVER my main priority is the first four points i made.

    cheers:party:
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    "Examine the impact of the eu's common agricultural policy on the world trade of agricultural goods" (40)

    creates trade creation with European producers, however loss of trade with people outside the union.

    Dumping in developing countries might create a dependency on european produce, as domestic firms are forced to shut down.

    Distortion of comparative advantage. Some countries have switched money away from agriculture as they are unable to match the EU's price competivity.

    Overall - reliance on the EU.
    distortion of free trade
    however the cap is changing - set-aside schemes
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    Andrew is incorrect on many points I believe
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    lol pardon!?
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    "Examine the impact of the eu's common agricultural policy on the world trade of agricultural goods" (40)


    1- trade diversion as inefficient producers in EU get advantages over efficient producers outside EU, works against globalisation, yada yada yada.

    2- distorts comparative advantage with its subsidies, mention dumping etc.

    3- creates huge surpluses, which pushes down prices with increasing supply in the short term, but will result in producers going out of business and even less supply --> higher prices in long term. Might want to mention Andrew's point about dependency here as evaluation as well.

    It does not cause trade creation.
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    Surely it creates trade with countries inside the EU who might have otherwise bought from overseas countries for certain supplies?
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    (Original post by Eyes Wide Shut)
    "Examine the impact of the eu's common agricultural policy on the world trade of agricultural goods" (40)


    1- trade diversion as inefficient producers in EU get advantages over efficient producers outside EU, works against globalisation, yada yada yada.

    2- distorts comparative advantage with its subsidies, mention dumping etc.

    3- creates huge surpluses, which pushes down prices with increasing supply in the short term, but will result in producers going out of business and even less supply --> higher prices in long term. Might want to mention Andrew's point about dependency here as evaluation as well.

    It does not cause trade creation.
    higher consumer prices?
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    (Original post by Andrew_2006)
    Surely it creates trade with countries inside the EU who might have otherwise bought from overseas countries for certain supplies?

    "Examine the impact of the eu's common agricultural policy on the world trade of agricultural goods" (40)"

    We are not talking about trade blocs. We are talking about the policy of CAP.

    Trade creation occurs when trade is shifted from inefficient producers outside the bloc to efficient producers inside. CAP does the opposite - it shifts trade from efficient producers outside the bloc to less efficient producers inside the bloc. Which is the definition of Trade Diversion.

    To make it more clear, trade blocs cause both Trade Diversion and Trade Creation. Trade Creation is caused by removal of protectionist measures like tariffs and quotas among themselves. Trade Diversion is caused by the fact that they keep using such policies against non-members and policies like the CAP.
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    (Original post by unsung_hero)
    higher consumer prices?
    Yes, it can be compared to predatory pricing in Unit 4.
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    (Original post by Eyes Wide Shut)
    Yes, it can be compared to predatory pricing in Unit 4.
    yeah it can but seeing as this exam is over now............................. .....................PARTY!
 
 
 

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