Section I - Multiple Choice (1 Viewer)

powersupply

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I chose D for question 9, but my teacher said the answer was B because a lowering of the cash rate meant more disposable income and since Y=C+S it meant that there was a rise in both consumption and savings. I chose B because the interest rate is lower meaning there is less incentive to save. Thoughts?
Na mate. D. The question said all things being equal. Your teacher looked too deep into it.
 

puffyjellyfish

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I chose D for question 9, but my teacher said the answer was B because a lowering of the cash rate meant more disposable income and since Y=C+S it meant that there was a rise in both consumption and savings. I chose B because the interest rate is lower meaning there is less incentive to save. Thoughts?
Your teacher is wrong. The answer is D because a decrease in interest rates means it encourages further borrowing in the economy for both investors and consumers and thus increase in AD (as AD = C+I+G+(X-M)). It also reduces savings ratio because there is less return from term deposits. Hence answer is D. A rise in consumer spending and household savings rate. Your teacher shouldn't see teaching you if he/she didn't know that...
 

jackftwlol

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Answers are as follows (99% sure)
1. B
2. A
3. B
4. A
5. A
6. C
7. B
8. D
9. D
10. C
11. C
12. D
13. D
14. B
15. A
16. A
17. C
18. A
19. C
20. D
 

jackftwlol

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Re: Scan of the Exam for Multiple Choice (as requested)

lol mc was so bloody easy ffs
 

shravan_872

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Re: Scan of the Exam for Multiple Choice (as requested)

i dont think 13 is D, I think it was B
becuase public goods are non-rival in consumption which basically means there is a fixed supply
 

shravan_872

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Re: Scan of the Exam for Multiple Choice (as requested)

do you happen to have the essays?
 

Mek9

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Answers are as follows (99% sure)
1. B
2. A
3. B
4. A
5. A
6. C
7. B
8. D
9. D
10. C
11. C
12. D
13. D
14. B
15. A
16. A
17. C
18. A
19. C
20. D
That's what I put, changed 9 from b to d last minute as well :)
 

jackftwlol

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Re: Scan of the Exam for Multiple Choice (as requested)

there is no fixed supply of public goods..
 

jackftwlol

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Re: Scan of the Exam for Multiple Choice (as requested)

i think your understanding of non rival is wrong
 

mickstarify

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Re: Scan of the Exam for Multiple Choice (as requested)

i dont think 13 is D, I think it was B
becuase public goods are non-rival in consumption which basically means there is a fixed supply
Well the question asks for the best statement for a public good
I guess both are true but D is more specific to a public good as "fixed supply" could refer to many things such as intellectual property or something

do you happen to have the essays?
Haha yeah ok il get right on it
 

mickstarify

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Re: Scan of the Exam for Multiple Choice (as requested)

shit just finished

i got 17 (or 16) :(

hopefully my other sections will carry me thru

howd u do q6 and q14 though?
6: add up the parts that make the labour force on both columns, so 200+600+100 and compare with the other side, which is 60k higher

14: There is more AS in the economy, so that means we must be producing more. Labour is a factor of production & icreasing it's efficiency will increase efficiency of production & therefore output
so AS is increased. -- Also all the other options won't do anyhting to AS
 

Lucas_

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Re: Scan of the Exam for Multiple Choice (as requested)

I think I got 19/20 :)

I got the one with the S + T + M = I + G + X one wrong, I think I chose trade deficit :(
 

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