Economics Paper 11

[Lostsoul]

anyone remembers the question where dere was a downward sloping d curve and a unitary elsatic demand..what was da ans to dis q..

Dont remember about this.. I think I wrote greater than unitary and it increases.. something like that, dont really remember. and i wasnt sure even

 

[shimmering star]

It was A[/quote
yup its A..thanmx

 

[Lostsoul]

Oh no! I put value Of imports
Messed up 8 Questions till now :'(
What about that Diagram of inelastic supply and elastic demand. What was thw ans?
And the last question of the policies?
And also the $ and £ question?
Urrrrm
The CPI one?
Number 2?

shimmering star answer my questions tooo

 

[bleedingwords123]

what was that one on a common currency. Was it an economic union or a customs union?

 

[Lostsoul]

dont remember the exact question.. if you can remember it? i feel i wrote customs union. Not sure coz i dont remember qstn

 

[bleedingwords123]

It was I think a free trade area with a common currency. Don't remember exactly, sorry. I marked customs union too but Wikipedia says it's an economic union. :/

 

[Lostsoul]

It was I think a free trade area with a common currency. Don't remember exactly, sorry. I marked customs union too but Wikipedia says it's an economic union. :/

Naah free trade area does not have common currency, even customs union dont. EConomic ntegration doo, well i dont remember the question quite well atm..

 

[muhammad razeen]

Dont remember about this.. I think I wrote greater than unitary and it increases.. something like that, dont really remember. and i wasnt sure even

are u talking about the Lras curve and aggregate demand
curve?

 

[ayushUcchil]

shimmering star answer my questions tooo

The last question about policies I think was A,
Dampening -Income Tax
Switching - Tarrif/Quota I think (don't remember)

which was the second question? And the $ and £ question?

 

[ayushUcchil]

Guys, there was one question with a Downward sloping demand curve, and a parabola shaped demand curve. Took nearly 10 minuted on that one at the end.
What was the answer? I found that the Parabola curve was more elastic at the point of intersection at the bottom.

 

[muhammad razeen]

Guys, there was one question with a Downward sloping demand curve, and a parabola shaped demand curve. Took nearly 10 minuted on that one at the end.
What was the answer? I found that the Parabola curve was more elastic at the point of intersection at the bottom.

true.point N

 

[ayushUcchil]

What was the answer for Purchasing Power Parity? 4.40:1? A?

 

[Lostsoul]

What was the answer for Purchasing Power Parity? 4.40:1? A?

Yes

 

[Lostsoul]

true.point N

ouuuoooffff. messed this up! X(

 

[Lostsoul]

The last question about policies I think was A,
Dampening -Income Tax
Switching - Tarrif/Quota I think (don't remember)

which was the second question? And the $ and £ question?

Second one was with PPC
And the other was purchasing power parity

 

[Lostsoul]

there was one with the demand and supply curves which are inelastic, opts were takes most of income and also good has no substitures.
wasnt sure of this and i wrote takes most of consumer income

 

[Lostsoul]

Hey guys. If I get 20 in MCQ how much do I need to get an A?
Assuming GT for MCQ to be around 21-24?

 

[ayushUcchil]

there was one with the demand and supply curves which are inelastic, opts were takes most of income and also good has no substitures.
wasnt sure of this and i wrote takes most of consumer income

That one is no substitutes. Demand is inelastic. This means that even if price changes, quantity demanded won't because people have no substitute goods to purchase instead.

 

[ayushUcchil]

Second one was with PPC
And the other was purchasing power parity

I have no recollection of the PPC :S was it the one that showed loss of skills?
The purchasing power parity answer that I got is A. 4.40:1

 

[Ebby_SaLeem]

yup ur correct

IT WAS NOT TERMS OF TRADE OYE DEVALUATION INCREASES THE PRICE OF IMPORTS ITS EVEN WRITTEN ON PG 90 OF OUR NOTES YAR -_-