Section I - Multiple Choice (5 Viewers)

[eyeswideshut]

HDI is measure of GDP per capita, life expectancy, educational attainment.

because country A has a lower GDP per capita but a higher HDI you can infer that it must have a higher of the latter two than country B.

okay thanks. I got 17/20. which is not disastrous but was aiming for 19/20

 

[rawrence]

I got 17.D

World price doesn't change to 15, that's domestic price

 

[weirdguy99]

do you know how i figured it out?

In modern history, we learnt that the landowners in germany were the ones least affected by hyperinflation.

that is exactly how i knew!! Haha!

 

[silence--]

What was the question? I put B i dont think i read the question right

Country A: $3000 GDP per capita, 0.9 HDI
Country B: $$5000 GDP per capita, 0.7 HDI

What can be correctly inferred from data in table?
a) country A has lower gini coefficient than B
b) A has higher coefficient than B
c) A has lower life expectancy and lower educational attainment than B
d) A has higher "...

 

[kev-is-red]

that is exactly how i knew!! Haha!

You ready for Modern?

 

[funkygirl59]

1) c
2) a,
3) c
4) d
5) a
6) b
7) c
8) a
9) d
10) c
11) b,
12) d
13) c,
14) b,
15) b
16) b
17) c,
18) d
19) b
20) c

Those are the answers.

I got exactly the same. Except for 7. I put A?? Because if the terms of trade are falling wouldn't the government raise interest rates to increase demand for the dollar to bring them back up? oh actually wait.....terms of trade are about export prices not the dollar...but aren't they interconnected? far out confused.

 

[Freddici]

Country A: $3000 GDP per capita, 0.9 HDI
Country B: $$5000 GDP per capita, 0.7 HDI

What can be correctly inferred from data in table?
a) country A has lower gini coefficient than B
b) A has higher coefficient than B
c) A has lower life expectancy and lower educational attainment than B
d) A has higher "...

Well A higher HDI means better living qualities along with standard of living. And "D" includes that.

 

[weirdguy99]

You ready for Modern?

I'm hoping for a good Weimar question since I haven't studied past 1934 at all lol..

 

[Skriker]

I got exactly the same. Except for 7. I put A?? Because if the terms of trade are falling wouldn't the government raise interest rates to increase demand for the dollar to bring them back up? oh actually wait.....terms of trade are about export prices not the dollar...but aren't they interconnected? far out confused.

Exactly same as me.

 

[funkygirl59]

I got it wrong, and I don't understand why I got it wrong. Sorry.

10 is C because a reduction in the net income deficit means reduced borrowing and investment overseas (as we're sending off less interest payments and equity payments, hence the reduced deficit) which is a reduction in supply of the $A.

it's not b because B represents an increase in demand. total opposite. the shift was the supply curve.

 

[Mjontrix]

what did you guys get for 10 and 12?

 

[silence--]

I got exactly the same. Except for 7. I put A?? Because if the terms of trade are falling wouldn't the government raise interest rates to increase demand for the dollar to bring them back up? oh actually wait.....terms of trade are about export prices not the dollar...but aren't they interconnected? far out confused.

if that is true though (about increasing the dollar) - wouldn't D would be a better answer?

im not saying you're wrong btw, im pretty confused too. was tossing up between C and D and still not really sure.

 

[weirdguy99]

Exactly same as me.

It says 'all other things being equal', so if you increased interest rates you would see a decline in growth, so I just went with D.

 

[kev-is-red]

It says Net income deficit !!!

Fuck, I didn't see deficit until now

 

[friend177]

Im a bit confused about 8...

what was your answer

 

[funkygirl59]

ahhh too true! i didn't even read that far down to be honest. haha yep this is the only one i think i may have gottne wrong

 

[abc123yoyo]

damn thats 2 mc down n i know this is the wrong section buuut do u think you would lose a mark if u didnt specify which labour market policy contributed to structural change or something i forgot the question exactly i put national education scheme haha i forgot the exact name

 

[friend177]

1) c
2) a,
3) c
4) d
5) a
6) b
7) c
8) a
9) d
10) c
11) b,
12) d
13) c,
14) b,
15) b
16) b
17) c,
18) d
19) b
20) c

Those are the answers.

Lol for 8 i put C cause i thought if there was high inflation, the reserve bank will increase interest rate to lower inflationary pressure thus allowing people who deposit into banks increase their money cause of increase in savings rate....thats what would probably happen in the long term anyways

 

[camsydes]

this is how you do 17
at price $10 -> domestic demand is 400, supply is 100, so foreigners make revenue of (400-100)*10 = $3000
at price $15 --> domestic demand is 300, supply is 200, so foreigners make revenue of (300-200)*15 = $1500

therefore revenue decreases by $1500, C.

y/n?

edit:



NAIRU doesn't involve cyclical unemployment though (frictional and structural only).

Not too sure if this has already been replied to cause I can't be bothered flicking through the rest of the thread. But remember, the extra $5 is the tariff revenue and doesn't go back to the producers, it goes to the government. Therefore the difference is $2000.

 

[silence--]

Not too sure if this has already been replied to cause I can't be bothered flicking through the rest of the thread. But remember, the extra $5 is the tariff revenue and doesn't go back to the producers, it goes to the government. Therefore the difference is $2000.

argh.
you are right.
i just checked the 2011 workbook and it matches this.

-1mark... oh well :L