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Hey guys!!!
A2 economics paper 3 is on 4 june 2015 rite???
A2 economics paper 3 is on 4 june 2015 rite???
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But it doesnt say Fantasia has LESS land than Sealand,only that it has more labour.So F could have more land as well and hence a comparative advantage in X.Dont you think?
And that supply curve,how does that make sense?If slope is different wouldnt DelQ/DelP be different?
Alright so both Income ED and PES will be unitary if they pass through origin.It can be obviously but nothing is explicitly stated.
It's a rule.Any line passing through the origin will have unit elasticity
No not YED.Alright so both Income ED and PES will be unitary if they pass through origin.
No not YED.
Only PES.
There's no such rule for demand elasticities
Inflation will be caused as a result of either i)Supply shock , ii) Demand pull or iii) Money supplyView attachment 54040
How is the ans C?Wouldnt inflation be caused by an increase in AD curve,that could be due to surplus in BOP?Or is surplus the reason only for Inflation,and Inflation itself doesnt affect surplus?And what are cash balances,we havent read about them nor are they mentioned anywhere.
Wont there be a surplus if Exports minus imports increases and hence that will shift the AD curve to the right,causing inflation?Inflation will be caused as a result of either i)Supply shock , ii) Demand pull or iii) Money supply
A)Balance of payment surplus;it will be caused as a result of a backward shift in AD not an increase in AD.
As inflation rises people will demand more money(in liquid form).People will also demand more money if AD rises(as income rises as a result).
Rise in inflation causes a rise in domestic prices.Wont there be a surplus if Exports minus imports increases and hence that will shift the AD curve to the right,causing inflation?
Man Eco is really contradictory and confusing.On one hand your explanation makes sense,but on the other i know that BOP surplus causes inflationary pressure as exports increase,leaving less goods in the country and hence raising their price due to less supply,and as imports will be less,it will also put pressure on domestic industry causing inflation.Rise in inflation causes a rise in domestic prices.
This makes exports more expensive and imports relatively cheaper.
Hence a BOP deficit.
Yes economics is like that.lolMan Eco is really contradictory and confusing.On one hand your explanation makes sense,but on the other i know that BOP surplus causes inflationary pressure as exports increase,leaving less goods in the country and hence raising their price due to less supply,and as imports will be less,it will also put pressure on domestic industry causing inflation.
Yeah theres always one question.I've gotten 29 twice but always lose out due to such stupid questionsYes economics is like that.lol
It's subjective.
There are always some questions in the paper to stop one from scoring full.
I have done 4 papers up until now and have come across such a question in every paper
Have they already filled the gaps or did you fill them?
Helloo!!Answer should be C
Yes P3 is on 4th.It should be stated on your statement of entry....Helloo!!
i just wanted to ask that the economics paper 3 that is our MCQ paper is on the 4 of june rite?
just confirming!!!!
Yerp...thanksYes P3 is on 4th.It should be stated on your statement of entry....
A) devaluation of currency would mean imports becoming more expensive thus imported inflation(wrong choice)Yeah i got that one but can you explain these:View attachment 54047 View attachment 54048 View attachment 54049
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