Catholic exam (3 Viewers)

[SoCal]

So what was the answer? It must have been more than $4 then.

 

[PG5]

how would u explain the per kilogram then? this is confusing...

 

[AGB]

wot do u mean the per kilogram thing?

 

[PG5]

wasn't the question...
how much subsidy did the government provide per kilogram?

 

[AGB]

yeah.....and the answer was $4....but the full effect of a subsidy is not passed on to the consumer unless the demand curcve is vertical

 

[Rand]

The Question asked per kilogram but the VERTICAL scale said PER KILOGRAM!

Why I think it cant be $3

Originally posted by jon117
I got $3 - dont know where the 4 came from.
Equilibrium moved from 13 to 10

BUT originally, equilibrium was achieved at $10. So why would the government implement a subsidy if the market was already at equilibrium (at equil., imports=0)?

The only reason the government would ever implement a subsidy is if the world price was lower than the equilibrium price.

Thus, subsidy = $4

I simply CANNOT believ that the Question was worth only 1 mark, I mean, most people probably got it wrong!

Oh well, that is the Catholic paper I guess
:mad1:

 

[Rand]

Hey AGB, what school do ya go to?

 

[AGB]

Knox....why do u ask??....wot school do u go to

 

[Rand]

North Sydney Boys

Coz u seem smart

 

[AGB]

perceptions can be deceiving.....

i really do wish i was.....

 

[SoCal]

Originally posted by AGB
yeah.....and the answer was $4....but the full effect of a subsidy is not passed on to the consumer unless the demand curcve is vertical

At least I got one mark for the exam.

 

[truly-in-bliss]

hey was wondering does anione remember the essay quest abt moentary and fiscal policy? do u remember da question?

 

[AGB]

there was one that involved the policies to achieve price stability????

 

[truly-in-bliss]

as in *explain how do fiscal and monetary policy help to achieve price stability*??

i hope we dont get dat...

 

[Minai]

The exam sounded difficult, hope all u guys went well

If u look at the past 2 HSC papers (2001, 2002), u'll find that the HSC exams are far more straightforward

 

[Kumar]

Yeah about the Trial Eco exam

What did u guys get for what is a Public good
a) Street Lighting
b) public swimming pool
c) Access to public transport
4) Pic Library

I got the public transport

 

[Newbie]

street lighting?
or library?

 

[SoCal]

I put a) Street Lighting because you have to pay for all the other options.

 

[Newbie]

is it public library?
or private?
whats pic?

 

[mgrewal]

omg, i havent done the exam yet mine is next week, was it really that hard?

im gonna die i dont know anything