1 / 12

The shorter ones!

The shorter ones!. Look at the question paper and then match the answers with the appropriate question (bearing in mind they aren’t all perfect answers – in fact some are wrong) Identify and correct any deliberate errors

jessica-mcgowan
Télécharger la présentation

The shorter ones!

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The shorter ones! • Look at the question paper and then match the answers with the appropriate question (bearing in mind they aren’t all perfect answers – in fact some are wrong) • Identify and correct any deliberate errors • Assess questions that were correct but not necessarily thorough enough against the mark scheme. Award a mark and then improve to get higher marks. (In particular focus upon other possible answers for 2b, then look at 3b, 4c, 5a & 5b for improvement)

  2. This refers to firms and consumers within a country’s economy trading/exchanging goods & services in return for money with firms and consumers from economies of foreign countries.

  3. Quotas to restrict the import of goods in to a countryExport subsidies to discourage exporting

  4. This is the total output of a country’s entire economy, divided by the population count to arrive at an output per head figure. This provides a truer comparison of economic progress between countries of different sizes

  5. Inflation – If aggregate demand increases, and demand already utilises most of aggregate supply, then rapid economic growth will lead to a sharp rise in price levels in the short term. Increase in income inequality – because inflation that occurs suddenly and is not planned for will result in a redistribution of wealth that may not be viewed as good for the longer term health of the economy.

  6. Consumer expenditure went up, because prices got cheaper due to a fall in inflation and there was less poverty and less unemployment

  7. There will be a positive relationship between changes in consumer expenditure and investment. More consumer expenditure will boost the animal spirits of businesses and encourage them to invest.

  8. Prices fell by 0.8% in comparison to the previous year

  9. Argentina had a surplus of $1.3 billion, from a deficit of $1.7USA had a budget surplus of $13.7 up from a surplus of $2.4

  10. No, it isn’t possible

  11. The tax cut will have caused inflation by creating an increase in aggregate demand

  12. A budget deficit is when a government spends more than it collects in tax. A cut in tax rates can commonly be associated with a budget deficit as taxes like VAT and income tax are a significant source of government income. A fall in such income would appear to increase the likelihood of a budget deficit as the government will collect less in taxes.

More Related