Economics P12 june 2012 ANSWERS...!!!

[student008]

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

A- quantity demanded of X also fell and urs??

 

[student008]

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

A- quantity demanded of x fell because it was a complimentary good

 

[Mattman]

eh? what variant did u take?
dont remember such a question

 

[yellitgirl]

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

i answered A...France option cox i wasnt so sure about UK, it said "created" more jobs...so i think its not important it created more jobs, its also possible that unemployment fell due to increased emigration or something

 

[m3hdi *n3No*]

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 anud 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,

u did two wong their was no hyperinflation and rice wala it was 1000 but still in dobt

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]

eh? how can it be 1000?

 

[mhalvi]

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

it was 1.66 n 2

 

[mhalvi]

u did two wong their was no hyperinflation and rice wala it was 1000 but still in dobt

thanks for your comments but I am pity sure it was 500 tonnes to make the total revenue equal to 10!
N secndly the hyperinflation question was almost a replica of nov 2004 qs.25 but there was a slight diffrnce for which I opted for Hyperinflation rather than D.If you remember in nov 2004 qs the base year(RPI 100) was 1971 and in our paper the base year given was 1990 so a period of 30 years cannot be classified as hyper inflation but in a span of 10 years RPI doubling is just hyperinflation...
so I think this base year made a difference

 

[student008]

eh? what variant did u take?
dont remember such a question

p11

 

[mhalvi]

other questions include:
1.what would reduce the labour force of a country
Early retirement
2.Money in the form of credit card,cash or bank draft.
Cash only
3. fixed exchange rate how would govt. reduce deficit?
Expenditre reduce

 

[m3hdi *n3No*]

thanks for your comments but I am pity sure it was 500 tonnes to make the total revenue equal to 10!
N secndly the hyperinflation question was almost a replica of nov 2004 qs.25 but there was a slight diffrnce for which I opted for Hyperinflation rather than D.If you remember in nov 2004 qs the base year(RPI 100) was 1971 and in our paper the base year given was 1990 so a period of 30 years cannot be classified as hyper inflation but in a span of 10 years RPI doubling is just hyperinflation...
so I think this base year made a difference

hyper inflation ranges from 100 percent to onward that was strato inflation or creeping inflation put for 1000 answer also came as revenue of 10000

 

[Mattman]

it was 1.66 n 2

i got 1.66 and 2 also but there was another range awnser which can include both XED as well

 

[mhalvi]

hyper inflation ranges from 100 percent to onward that was strato inflation or creeping inflation put for 1000 answer also came as revenue of 10000

it was 4.5 earlier n 5 would have made it to 10000

 

[mhalvi]

i got 1.66 and 2 also but there was another range awnser which can include both XED as well

ya but this was the closet range

 

[m3hdi *n3No*]

let it be let the examiner suffer =p

 

[mhalvi]

hyper inflation ranges from 100 percent to onward that was strato inflation or creeping inflation put for 1000 answer also came as revenue of 10000

even a 100 pc inc is a hyper inflation

 

[m3hdi *n3No*]

100 to 200 in 10 year isnt hyper is creeping anwer was D tha stated that overall their was inflation

 

[Mattman]

What you all awnser for the exchange rate question? showing the demand and supply curves shifting?

 

[junaidaftab]

What are the CORRECT answers for the following questions:

1) How would the government improve its BOP deficit if it employs a fixed exchange rate system?
2) CBA. Consumer Surplus or Taxation Payments?
3) Which two sections of the BOP account would be altered if a bank borrows money from abroad?
4) Economy moves from high to low unemployment, but inflation remains relatively low.

Answer with explanations.

 

[Mattman]

1)reduce expenditure-expenditure dampening policy
2)taxation payments-I dont see why a firm wont take into account consumer surplus..
3)Income and financial,interests is under income
4) ? whats the question?