- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
Q.5
Discuss what might cause inequalities in wage rates in an economy. [25]
Discuss what might cause inequalities in wage rates in an economy. [25]
-
Prepare by Xtremepapers!
🚀 NEW from the xtremepape.rs team: AI exam prep — 150,000+ worked solutions, and it marks your handwritten working from a photo. Sign in with your forum account & try it free → prepare.xtremepape.rs
A2 ECONOMICS: Guess Paper-4
- Thread starter Qamar Baloch
- Start date
- Status
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
Q.6
In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
7.
Most governments aim for full employment and stable prices. Which of those two aims should your government seek to achieve in the coming year and how might this choice affect the other aim? [25]
In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
7.
Most governments aim for full employment and stable prices. Which of those two aims should your government seek to achieve in the coming year and how might this choice affect the other aim? [25]
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
So, dear finally you have got the complete guess paper. Now see how many of you help others in solving these questions. Let's see. But you need not to worry about the real solution. I will send that to as many people as I can inbox. I wish all of you very best of luck.
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
Your complete guess paper without data response is given below as data response has been sent to all at their email ID. If any one of you is still waiting for data response then email me at [email protected]
- Messages
- 69
- Reaction score
- 11
- Points
- 8
i
i saw This one on pastpapers~~
- Messages
- 69
- Reaction score
- 11
- Points
- 8
i'll try question 5.
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
Note: Guess means something predicted based on experience and evaluation skills. It can never be the actual keep it in mind. According to my speculation Examiner will ask the same questions but with different statements. But the same knowledge will be tested InshaAllah. Those who are very week in studies are advised to learn at least Q.1, 3 and 5.
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
7.
Most governments aim for full employment and stable prices. Which of those two aims should your government seek to achieve in the coming year and how might this choice affect the other aim? [25]
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
Section B
1. In 2006 it was reported that a country’s unemployment rate had remained steady and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
7.
Most governments aim for full employment and stable prices. Which of those two aims should your government seek to achieve in the coming year and how might this choice affect the other aim? [25]
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
I am posting it again due to lack of visibility.
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
Note: Guess means something predicted based on experience and evaluation skills. It can never be the actual keep it in mind. According to my speculation Examiner will ask the same questions but with different statements. But the same knowledge will be tested InshaAllah. Those who are very week in studies are advised to learn at least Q.1, 3 and 5.
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
Note: Guess means something predicted based on experience and evaluation skills. It can never be the actual keep it in mind. According to my speculation Examiner will ask the same questions but with different statements. But the same knowledge will be tested InshaAllah. Those who are very week in studies are advised to learn at least Q.1, 3 and 5.
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
ported that a country’s unemployment rate had remained steady
and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
Section B
1. In 2006 it was reNote: Guess means something predicted based on experience and evaluation skills. It can never be the actual keep it in mind. According to my speculation Examiner will ask the same questions but with different statements. But the same knowledge will be tested InshaAllah. Those who are very week in studies are advised to learn at least Q.1, 3 and 5.
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
Section B
1. In 2006 it was reported that a country’s unemployment rate had remained steady and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
ported that a country’s unemployment rate had remained steady
and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
Note: Guess means something predicted based on experience and evaluation skills. It can never be the actual keep it in mind. According to my speculation Examiner will ask the same questions but with different statements. But the same knowledge will be tested InshaAllah. Those who are very week in studies are advised to learn at least Q.1, 3 and 5.
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
Section B
1. In 2006 it was reported that a country’s unemployment rate had remained steady and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
You are true.
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
Note: Guess means something predicted based on experience and evaluation skills. It can never be the actual keep it in mind. According to my speculation Examiner will ask the same questions but with different statements. But the same knowledge will be tested InshaAllah. Those who are very week in studies are advised to learn at least Q.1, 3 and 5.
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
V.V.V.V.V Important questions 1, 3 and 5. Don’t forget to revise them. I wish all of you best of luck!
Section B
1. In 2006 it was reported that a country’s unemployment rate had remained steady and that its central bank, through its interest rate policy, had prevented an
increase in inflation despite a sharp rise in oil prices.
(a) Explain what might cause unemployment. [12]
(b) Discuss how interest rate policy might prevent a rise in inflation. [13]
2. (a) Explain the factors influencing the level of investment in an economy. [10]
(b) Discuss the extent to which national income is determined by private
investment. [15]
3. Discuss how far the GDP figure might be used to determine whether one country
has higher living standards than another. [25]
4 Airbus, a large aircraft manufacturing company, announced in 2007 that its goal
was to increase its $475 million research budget by 25 % in order to try to develop
a more environmentally friendly aircraft that had lower fuel consumption.
(a) Explain why Airbus is likely to be in an imperfect rather than a perfect market
structure. [10]
(b) Economics textbooks sometimes criticise firms in imperfect competition as being
against the public interest. What does this mean, and how far does the Airbus
announcement prove the textbooks wrong? [15]
5. Discuss what might cause inequalities in wage rates in an economy. [25]
6. In 2009 there were huge fires in Australia which destroyed much property and
countryside.
The government promised to allocate a large amount of money and resources to
help with the restoration of the area.
(a) With the help of diagrams explain what is meant by efficiency in the use of
resources. [12]
(b) Discuss the economic implications of the government’s approach to the situation.
[13]
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
Ok do it and let me check that.
- Messages
- 69
- Reaction score
- 11
- Points
- 8
question 5:
1.expl MRP -demand for labour and marginal factor cost regarding to the supply of labour.
2.using perfect compt. as a model,wage determination was established at the point of equilibrium-MRP=marginal factor cost(showing a diagram)
3.discuz influence of trade unions- trade union can affect wage rate by:
-improving productivity-by negotiating for better conditions and protecting the workforce, the unions may improve worker's output
-using industrial power e.g the threat of strikes to employers to pay more
- by restricting supply-only union members allowed to work here-reduce possible supply of labour and increases wage rate
unions can use their power to push up the price of labour. this caused a surplus and reduces the number employed. To try to increase pay and employment, unions must aim to increase productivity so that the D of L shifts outwards. (showing a diagram of collective bargaining by TU )
however, the power of tarde union depend on: the number of members; the legal environment etc.
4.discuz govt. intervene by introducing minimum wage and other relevant legislation
the minimum wage aims to -help low paid,may give more incentive to work (showing diagram)
howver, effect of minimum wage depends on how far above equilibrium the minimum wage is set and elasticity of supply and demand of labour.
5.discuz monopsony - single dominant buyer,in a strong bargaining position; wage maker
faces upward sloping supply curves- they need to increase wages to attract more workers. they must to increase wage for the last worker and all the ones before;this means the marginal cost of labour is higher than the av. wage rate(showing a diagram)
6.other imperfections include
-wage difference- quasi-pecuniary benefits;labour immobility- both occupational and geographical; lack of infomation
-employers may not be profit maximizers
- expolitation
7. differences in individual earnings:
e.g -ability and skills
-non-monetary characteristics
- age
-gender and race
-location
-demand for individual
i think that's all from me.
Sir,How was it?
1.expl MRP -demand for labour and marginal factor cost regarding to the supply of labour.
2.using perfect compt. as a model,wage determination was established at the point of equilibrium-MRP=marginal factor cost(showing a diagram)
3.discuz influence of trade unions- trade union can affect wage rate by:
-improving productivity-by negotiating for better conditions and protecting the workforce, the unions may improve worker's output
-using industrial power e.g the threat of strikes to employers to pay more
- by restricting supply-only union members allowed to work here-reduce possible supply of labour and increases wage rate
unions can use their power to push up the price of labour. this caused a surplus and reduces the number employed. To try to increase pay and employment, unions must aim to increase productivity so that the D of L shifts outwards. (showing a diagram of collective bargaining by TU )
however, the power of tarde union depend on: the number of members; the legal environment etc.
4.discuz govt. intervene by introducing minimum wage and other relevant legislation
the minimum wage aims to -help low paid,may give more incentive to work (showing diagram)
howver, effect of minimum wage depends on how far above equilibrium the minimum wage is set and elasticity of supply and demand of labour.
5.discuz monopsony - single dominant buyer,in a strong bargaining position; wage maker
faces upward sloping supply curves- they need to increase wages to attract more workers. they must to increase wage for the last worker and all the ones before;this means the marginal cost of labour is higher than the av. wage rate(showing a diagram)
6.other imperfections include
-wage difference- quasi-pecuniary benefits;labour immobility- both occupational and geographical; lack of infomation
-employers may not be profit maximizers
- expolitation
7. differences in individual earnings:
e.g -ability and skills
-non-monetary characteristics
- age
-gender and race
-location
-demand for individual
i think that's all from me.
Sir,How was it?
- Messages
- 69
- Reaction score
- 11
- Points
- 8
done 
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
It would be better keep your tongue inside. Otherwise it would get dirty. Got my point.done
You are replying to a teacher keep in mind. Otherwise you are a nice boy.
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
ok
done
- Messages
- 1,260
- Reaction score
- 676
- Points
- 123
nicedone
- Messages
- 69
- Reaction score
- 11
- Points
- 8
so how was my answer then？
- Messages
- 74
- Reaction score
- 17
- Points
- 18
(a) Firstly we will define the term investment . Investment is of two types : Direct investment which involves the purchase of physical capital, be it in the form of factories, machine, tools etc, houses etc and portfolio investment which involves purchases of shares, debenture, stocks etc. Factors influencing investment are changes in the productivity of capital, changes in the price of capital, changes in the AD, firms future expectation about market conditions, changes in technological progress, changes in government policy like changes in grants, corporation taxes, investment tax allowances etc, changes in the profit level, business debt level, avaliablity of finance, surplus capital stocks. We will explain these factors through the help of diagram of MEC(marginal Efficiency of capital )
(B) Private investment refers to an expenditure by both local and foreign firms to produce capital.
National income statistics gives an economy's aggregate income or output or expenditure measure in one year.
Private investment is one of the determinant of national income but not the most important as there are other ways too.
Firstly, the aggregate demand cuts 450 line. Secondly, the injections curve cuts the withdrawals curve and thirdly the AD curve cuts the AS curve .. Will explain each with diagrams ..
Will also explain that investment is one of the component of Ad and it is an injection any increase in investment will cause N.I to increase by multiple amount.
- Status