General Thoughts: Economics (2 Viewers)

[Richard III]

For Q11: Which of the following types of Ue is not affected by the rise in mining sector activity or the decline in manufacturing sector activity?
a) Seasonal
b) Frictional

I'm wondering what we thought the answer was (and why?) This is m/c that stumped me..
Im leaning towards answer is a)... however in exam I put b..
I'm thinking It isn't b because a decline in manufacturing sector activity can result in individuals becoming structually Ue and :. they experience a mismatch in skills and are not so easily able to transition from old job in manufacturing to a new job?
Does seasonal Ue have anything to do with D changing ? because I started thinking along those lines in the exam

 

[spyris]

For Q11: Which of the following types of Ue is not affected by the rise in mining sector activity or the decline in manufacturing sector activity?
a) Seasonal
b) Frictional

I put seasonal beause if they have greater demand for labour than the time between jobs would be shorter as they would want the labour quicker

 

[leesh95]

I don't think you needed NAIRU but just in case why?

I didn't put it in but probably tell the impacts of unemployment on inflation and show unemployment increase causes low inflation due to low consumer spending?

 

[johnny_boy12]

For Q11: Which of the following types of Ue is not affected by the rise in mining sector activity or the decline in manufacturing sector activity?
a) Seasonal
b) Frictional

I put seasonal beause if they have greater demand for labour than the time between jobs would be shorter as they would want the labour quicker

same cause the question was talking about sector activity which could relate frictional due to someone being forced to change jobs because of declining sector activity imo.

 

[Richard III]

same cause the question was talking about sector activity which could relate frictional due to someone being forced to change jobs because of declining sector activity imo.

Yeah I feel answer is Seasonal.. tbh I can't actually remember what I put but suspect I was out of it and put B

 

[bfoo]

For Q11: Which of the following types of Ue is not affected by the rise in mining sector activity or the decline in manufacturing sector activity?
a) Seasonal
b) Frictional

I'm wondering what we thought the answer was (and why?) This is m/c that stumped me..
Im leaning towards answer is a)... however in exam I put b..
I'm thinking It isn't b because a decline in manufacturing sector activity can result in individuals becoming structually Ue and :. they experience a mismatch in skills and are not so easily able to transition from old job in manufacturing to a new job?
Does seasonal Ue have anything to do with D changing ? because I started thinking along those lines in the exam

Seasonal because it is has a set time period per year and isnt really influenced by the above factors

In the mining sector or manufacturing sector, both influence AD, and when AD(then incr. production and incr. labour demand) exceeds AS (as on the NAIRU curve which would cause accelerated inflation) the price increase of goods and services rises faster than wages, so employers can afford to hire more people; hence it reduces frictional!

 

[pHyRe]

My teacher's a hsc marker and trust me these guys can get a really good estimate just by reading through. Again though my teacher always stressed that insightful analysis was always the key to the top band, not just endless stats and content.

What do you mean by insight? Like showing relationships between stuff like nairu and graphs or something more?

 

[NWO]

seasonal will affect it- manufacturing= jumpers

Frictional unemployment is CAUSED when one person moves from a job to another thus becoming unemployment in the process. This has nothing to do with minning boom lol. it was a trick qusetion at the beginning but im smarter than the qusetion lol

 

[NWO]

q3 is a trick qusetnio lol. Remember lorenz curve is a graphical distribution of income inequality. high gdp ofcourse means inequality. However, the best answer is, should be, welfare payments. cos due to welfare payments, curve shifts towards 0.

 

[Darth_Duplicity]

Can someone please reassure me that the Board of studies will realise that my second essay was written in spare booklets instead?!

The markers will make sure that markers are made of aware of what happened. After all students leave they go over the exams again to check them.

 

[Darth_Duplicity]

I actually felt that this exam was much easier than previous years. Anyone else?

 

[hayleyemma96]

Mark predictions
MC: 15-16/20
SA: 35-40/40
S3: 16-18/20
S4: 15-17/20

Total: 81-91/100
Band 5/6 coming my way!!!
Funny because at the start of the year I was convinced I would get a band 3/4.


Hayley

 

[planino]

The highway bypass question reminded me of Radiator Springs so I used that as a stimulus hehe
21a) in that case wasn't that dissimilar to a creative then, for me

 

[Renegader]

I actually felt that this exam was much easier than previous years. Anyone else?

Same with me, especially the multiple choice. I'm sure everyone can say the essays were ordinary, but the multiple choice were intentionally deceitful and the short answers were somewhat specific and made you think kinda, like that weird overpass question.

 

[Darth_Duplicity]

Same with me, especially the multiple choice. I'm sure everyone can say the essays were ordinary, but the multiple choice were intentionally deceitful and the short answers were somewhat specific and made you think kinda, like that weird overpass question.

Yeah, I actually timed myself so that I wouldn't rush multiple choice, because for some reason I tend to do poorly (not this time I don't think!), but still ended up with 2 hours to do the essays, even though you're only supposed to spend 35 minutes on each.

 

[studybuddy101]

What do you mean by insight? Like showing relationships between stuff like nairu and graphs or something more?

Insight as in go beyond just explaining how the economic system works, but give a genuine perspective and thoughtful ideas. Sort of like a "personal response" from english but rooted with fundamental facts/theory/stats/graphs. Like in today's unemployment essay, rather than just list how unemployment occurs and it's direct impacts, some good insight would be to integrate ideas on external stability (higher employment = higher imports = worsening BOGS = worsening CAD, take it further by giving one or two sentences on the issues with a CAD and link it all back to the question at hand). It's really just about going further than the chapters of your textbook and demonstrating every corner of your knowledge with the syllabus and how it all works together

sorry for the essay

 

[Darth_Duplicity]

Insight as in go beyond just explaining how the economic system works, but give a genuine perspective and thoughtful ideas. Sort of like a "personal response" from english but rooted with fundamental facts/theory/stats/graphs. Like in today's unemployment essay, rather than just list how unemployment occurs and it's direct impacts, some good insight would be to integrate ideas on external stability (higher employment = higher imports = worsening BOGS = worsening CAD, take it further by giving one or two sentences on the issues with a CAD and link it all back to the question at hand). It's really just about going further than the chapters of your textbook and demonstrating every corner of your knowledge with the syllabus and how it all works together

sorry for the essay

In other words, shove as much cause and effect in as you possibly can, backed up by statistics ideally.

 

[heytherewhatsup]

Sorry guys wt do u think a raw mark of 91 would align to? Was aiming for a state ranking for obviously no hope lol

 

[shellaaa]

The markers will make sure that markers are made of aware of what happened. After all students leave they go over the exams again to check them.

I really hope so! The supervisors are aware that I made that mistake, but as far as I know, i don't think they have anything to do with the ones that actually mark the exams. I just hope they dont think I completely missed out on one of the essays :/ I don't want to lose 20 marks for nothing.

 

[Lachyy]

I'm pretty sure 20 is b, the current tariff is $10, which is then reduced to $5. How would it increase tariff revenue when foreign imports have to pay less to the government.

But when the tariff was 10 dollars, domestic suppliers had all the market, so due to there being no imports, the tariff could've been even higher but still no revenue would be made for the government. Is that kinda right anyone?