Economics Marathon 2014 anyone??? (2 Viewers)

[Futuremedstudent]

LOOL, well maybe if the marker is looking for a LOL, but one reason is that there is largely no policy response towards reducing the degree of inequality in wealth, but there is a larger response for income, (e.g. taxation, transfer payments etc...). One of a few reasons anyway

thanks

 

[avi888]

The negative impacts of a high CAD (3 marks)?

 

[Futuremedstudent]

Why are average weekly earnings for males higher than average weekly
earnings for females in Australia?

 

[Futuremedstudent]

The negative impacts of a high CAD (3 marks)?

A current account deficit, may imply that you are relying on consumer spending, and are becoming uncompetitive. This leads to lower growth of the export sector.

 

[Futuremedstudent]

I hate questions (essay questions ) related to globalisation ((((

I hate the case study questions !!!
I hope its not gonna be in the exam (or at least not in the essay section) this year !!!!





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dw, just memorise and you can get 95+
this question was in the 2005 paper so yeah it can appear again.

 

[trungduong12]

The negative impacts of a high CAD (3 marks)?

High cad -> high foreign debt -> servicing costs -> may lead to high foreign liabilities-> downgrading aus credit -> push up interest rates -> even higher servicing costs in the future -> further add to the high cad

Please correct me if im wrong

Cheers !


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[trungduong12]

dw, just memorise and you can get 95+
this question was in the 2005 paper so yeah it can appear again.

Im doing essays plans atm
What topic do u think the 4 essays will be?
Cuz really its so hard to memorise ALL the essays PLUS the content



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[avi888]

Partially due to the inherent skills gap which exists between male and females, with less females achieving higher tertiary education, also as many women enter the workforce the reach a metaphorical glass ceiling as they are expected to leave work to "have babies", also a large majority of female workers are on part time or casual work meaning they have less hours and less income as well

 

[Futuremedstudent]

Im doing essays plans atm
What topic do u think the 4 essays will be?
Cuz really its so hard to memorise ALL the essays PLUS the content



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hey
i think economic policies and management, but i won't be suprised if they ask an essay question on prelim stuff..
yeah, i get what you mean memorising is annoying and hard like when learning a new language.. anyways, just study like do some questions and start to read over your notes and memorise them so you don't have to cram the night before

 

[Futuremedstudent]

Partially due to the inherent skills gap which exists between male and females, with less females achieving higher tertiary education, also as many women enter the workforce the reach a metaphorical glass ceiling as they are expected to leave work to "have babies", also a large majority of female workers are on part time or casual work meaning they have less hours and less income as well

fantastic answer
you guys rock!

 

[avi888]

High cad -> high foreign debt -> servicing costs -> may lead to high foreign liabilities-> downgrading aus credit -> push up interest rates -> even higher servicing costs in the future -> further add to the high cad

Please correct me if im wrong

Cheers !


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Nah you are not wrong, but u need more than one, maybe capacity restraints, lack of confidence is usually a good one

 

[Futuremedstudent]

Which scenario best demonstrates the benefits of a fixed exchange rate system?
(A) A country experiencing a recession fixes its currency to that of a country in which
interest rates are low.
(B) A country experiencing a boom fixes its currency to that of a country experiencing
a recession.
(C) A country experiencing a recession fixes its exchange rate above the equilibrium
rate.
(D) A country experiencing a boom fixes its exchange rate below the equilibrium rate

 

[avi888]

Torn by a and D whats the answer?

 

[trungduong12]

Which scenario best demonstrates the benefits of a fixed exchange rate system?
(A) A country experiencing a recession fixes its currency to that of a country in which
interest rates are low.
(B) A country experiencing a boom fixes its currency to that of a country experiencing
a recession.
(C) A country experiencing a recession fixes its exchange rate above the equilibrium
rate.
(D) A country experiencing a boom fixes its exchange rate below the equilibrium rate

A maybe??
Not sure of this
I dont think its C though


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[Futuremedstudent]

Torn by a and D whats the answer?

the answer is a or d so you're correct

 

[Futuremedstudent]

A maybe??
Not sure of this
I dont think its C though


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correct
answer is a or d

 

[trungduong12]

correct
answer is a or d

Lol
Really?

I was thinking its A or D too
But cuz D the economy is already booming
So i think its more "benefit" with an economy is in recession - which is A



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[avi888]

lol whut 2 answers, what even? , Identify the fiscal policy stance in 2014 and the reasons for the stance?

 

[trungduong12]

lol whut 2 answers, what even? , Identify the fiscal policy stance in 2014 and the reasons for the stance?

Contractionary stance (increase taxation and reduce gov spending)
Reasons: aim to maintain sustained level of cad and reduce budget deficit and aim for fiscal consolidation with$ 2 billion surplus by 2025


Please correct me if im wrong




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[Futuremedstudent]

lol whut 2 answers, what even? , Identify the fiscal policy stance in 2014 and the reasons for the stance?

it was q16 in the 2010 paper. according to this: http://www.boardofstudies.nsw.edu.au/hsc_exams/hsc2010exams/pdf_doc/economics-marking-guide-10.pdf