Economics P12 june 2012 ANSWERS...!!!

[mhalvi]

dear all hope you had a great paper Am posting the qs and answer which I remember if any one remembers otherz plz do share,any idea about GT,I feel 24...
Anyways:

Country X and Y it was A THERE WOULD BE TRADE,
Max price minimum price no effect on equilibrium,
Demand of a product decrease as its cost of production decreases
DecreCountry X and Y it was A,
Max price minimum price no effect on equilibrium,
Demand of a product decrease as its cost of production decreases
Decrease and uncertain,common consumer surplus was D each had a
consumer surplus of 2 demand for rice inc was 500 tonnes,tariffs
provide revenue to govt.n quotas beneficial to seller of import,hyper
inflation frm 1990 to 2000,planned economy resources centrally
allocated, price of car parking according to price mechanism shud OP
,external cost=social cost-private cost,quantity supplied of supply
curve was $3,govt n pvt firm COst benefit analysis was TAX payment,
$1.25=£1,
demand curve n supply curve both shiftd to ryt syd was option C,tax
was $6 aftr removalof tax $6, public goods free rider problem everyone
is not charged, country specializes in spices bt still not trades
because of tariffs on spices in othr countries,ase and uncertain,common consumer surplus was D each had a
consumer surplus of 2 demand for rice inc was 500 tonnes,tariffs
provide revenue to govt.n quotas beneficial to seller of import,hyper
inflation frm 1990 to 2000,planned economy resources centrally
allocated, price of car parking according to price mechanism shud OP
,external cost=social cost-private cost,quantity supplied of supply
curve was $3,govt n pvt firm COst benefit analysis was TAX payment,
$1.25=£1,
demand curve n supply curve both shiftd to ryt syd was option C,tax
was $6 aftr removalof tax $6, public goods free rider problem everyone
is not charged, country specializes in spices bt still not trades
because of tariffs on spices in othr countries,

 

[Mattman]

How do quotas benefit the seller of import?

Whats your awnser for the PPC and XED question?

 

[yellitgirl]

what was the answer to what is the factor which a private firm will not consider in a cost benefit analysis but a government project will?
was it consumer surplus, tax payments or interests charged?>

 

[Mattman]

i awnsered tax payments

 

[yellitgirl]

me too but some of my friends were saying consumer surplus :S

 

[yellitgirl]

and yeah there was this question in our variant about unemployment rates in France japan Italy and i dno china maybe :S
and it asked what do u deduce from this information
i chose that France had the EMPLOYED rate in both the years
do u remember something about it?
another option was UK created most jobs :S

 

[mhalvi]

i awnsered tax payments

it was tax payment

 

[mhalvi]

what was the answer to what is the factor which a private firm will not consider in a cost benefit analysis but a government project will?
was it consumer surplus, tax payments or interests charged?>

tax payment

 

[mhalvi]

and yeah there was this question in our variant about unemployment rates in France japan Italy and i dno china maybe :S
and it asked what do u deduce from this information
i chose that France had the EMPLOYED rate in both the years
do u remember something about it?
another option was UK created most jobs :S

thr wasnt anythng lyk tht in our papr

 

[Mattman]

What was the awnser for no. 2?? the PPF question. I awnsered C

 

[yellitgirl]

u answered decrease in innovation?

 

[yellitgirl]

what were the options again? :$

 

[Mattman]

A is decrease in innovation
C is increase in price of energy

 

[yellitgirl]

i did the same thing ...increase in energy *me gusta*
i have a good feeling about the paper ^__^

 

[Mattman]

What about no.8? the XED range

 

[yellitgirl]

lol i dno my variant was different :/

 

[student008]

and yeah there was this question in our variant about unemployment rates in France japan Italy and i dno china maybe :S
and it asked what do u deduce from this information
i chose that France had the EMPLOYED rate in both the years
do u remember something about it?
another option was UK created most jobs :S

i answered uk created jobs because UK's unemployment rate fell from 10.5 to 5.6 or something like this

 

[Mattman]

Did you have the exchange rate diagram question? showing shifts in demand and supply curve?

 

[student008]

What was the awnser for no. 2?? the PPF question. I awnsered C

same here i also answered C, since an increase in the price of energy could be due to lack of supply which meant that there was a fall in the amount of resources

 

[Mattman]

^ What was your awnser for no. 8? XED?