Economics 0455 Paper2 variant 2

[Chucky]

just gave the exam, thought I'd post some of the questions

first ones about trade barriers and a case study between china and the US, on how Chinese yuan is at 6.8 = $1, and how trade affects the exchange

forgot number 2 and 3 mostly (because I didn't do them)
number 4 is easy and its on money and how it is simpler than barter,
there were some other questions on death rate (define and factors affecting it), what is overpopulation, and the problems regarding population of developed and developing countries <<that was number 7.

number 6 was on economic growth and inflation. the 10 mark question was on "can a government achieve high rates of economic growth?"


I was a bit confused on the last question of number 7 which asked for the differences and similarities of the POPULATION problems between developed and developing countries, was hoping someone would post that answer here

 

[kboss]

paper was quite lengthy....i had to write 25 sheets of A4 paper!!!

 

[rohanbarua]

WHAT! 25!?
I wrote 10 sides! thats it.
It was alright. Bit hard but not tooooo hard!

 

[Phyecomath]

Q2 was about factors of production specifically about land and also about the internal and external of economies of scale. Q5 was about the differences in partnership and a company and how might a firm make profit. I had a hard time answering section A. How did you answer it? And I answered Q7 by talking about the high rapidly growing population in developing countries with also high death rates. And developed countries with low death rate because of modern hospitals and medical facilities to treat diseases.

 

[maheenhemani]

i dint find section A dat bad i mean overall it was gud
it was confusing wat did u write in the last qn fr qn 1??
it was something on trade protectionism....
i answered 3,4 n 6

 

[rohanbarua]

YEA! section A was hard!
I did 3,4,5.

 

[WhiteAngel]

Did anyone do variant 1 ??

 

[Meg]

It was amazing! I loved this paper! I wrote around 14 pages?
section A was really easy.
the first answer was that China had a trade surplus. Hence by raising its currency value, it makes importing cheaper. also it becomes more difficult for other nations to export chinese products as it becomes more expensive.
Countries face issues due to china's current account surplus because their balance of trade position has a deficit. this occurs because they import extensively from china
the next part was that other economies can reduce their deficit via trade positions as it would discourage imports from china. here I wrote about the ways to protect trade like embargos and quotas.
I wrote the answers for q.2,3 and 5
overall the paper was amazing
any doubts il help

 

[Meg]

paper was quite lengthy....i had to write 25 sheets of A4 paper!!!

what did you write worth 25 pages? :O

 

[Meg]

But I got stuck on what increases the demand for the product? What exactly should one write for that :O

 

[Ahmad Sanad]

Anyone took paper 21?

 

[WhiteAngel]

Anyone took paper 21?

i do , how did u find it ??

 

[kboss]

what did you write worth 25 pages? :O

answers to the questions!!

 

[Meg]

omg wow
scholar XD

 

[Ahmad Sanad]

i do , how did u find it ??

Section A was quite hard. But Section B I found it kinda easy. How did you find it?

 

[WhiteAngel]

Section A was quite hard. But Section B I found it kinda easy. How did you find it?

It was ok ..which questions did u select , i chose 2, 3 ,4 .

 

[maheenhemani]

i chose 3,4,6

 

[eman haider]

But I got stuck on what increases the demand for the product? What exactly should one write for that :O

yeah um demand for a product can go up through several reasons, based on price elasticity and revolved around prices for a product, a decrease in tax rates, an increase in incomes, a larger market share, perhaps it's reputation, or weather reasons. i can't really remember now. question one was pretty difficult, i wasn't 100% sure myself what i wrote, but i did mention a lot about how it would be more expensive on other countries aka the united states.. and that if china had a surplus that meant their currency was on the open market and yeah strong and other countries had to pay more because it was a fixed exchange rate and unlike china imports would be more costlier for the us than china importing because the exchange rate isn't determined by the market forces. on the last part i wrote about tarrif's and quota's. blah. hope it was good. mcq's in a few weeks! hopefully it'll be easy enough to score 100%

 

[eman haider]

But I got stuck on what increases the demand for the product? What exactly should one write for that :O

yeah um demand for a product can go up through several reasons, based on price elasticity and revolved around prices for a product, a decrease in tax rates, an increase in incomes, a larger market share, perhaps it's reputation, or weather reasons. i can't really remember now. question one was pretty difficult, i wasn't 100% sure myself what i wrote, but i did mention a lot about how it would be more expensive on other countries aka the united states.. and that if china had a surplus that meant their currency was on the open market and yeah strong and other countries had to pay more because it was a fixed exchange rate and unlike china imports would be more costlier for the us than china importing because the exchange rate isn't determined by the market forces. on the last part i wrote about tarrif's and quota's. blah. hope it was good. mcq's in a few weeks! hopefully it'll be easy enough to score 100%

 

[eman haider]

just gave the exam, thought I'd post some of the questions

first ones about trade barriers and a case study between china and the US, on how Chinese yuan is at 6.8 = $1, and how trade affects the exchange

forgot number 2 and 3 mostly (because I didn't do them)
number 4 is easy and its on money and how it is simpler than barter,
there were some other questions on death rate (define and factors affecting it), what is overpopulation, and the problems regarding population of developed and developing countries <<that was number 7.

number 6 was on economic growth and inflation. the 10 mark question was on "can a government achieve high rates of economic growth?"


I was a bit confused on the last question of number 7 which asked for the differences and similarities of the POPULATION problems between developed and developing countries, was hoping someone would post that answer here

not that i did it... but the difference of population between developed and developing countries is based on the difference of emmigration, immigration, education, health, employment and all these factors.
i'd write and essay about it but i'm way too tired.
an example is that when there's a lack of education and skill in a developing country (stating the obvious) then women are most likely going to have children because they have the time to do so, however in a developed country women work and find children to be an interference. it also depends on the culture of a country, therefore in a developing country birth rates tend to be higher, and death rates too, gah. death rates are higher because people lack health facilities unlike a developed country.