Section I - Multiple Choice (1 Viewer)

[hayleyemma96]

Economics multiple choice is immediate impact, you aren't wrong but the answer is increase cost push

Well maybe they should mention on the paper that it is immediate impact. Both events are as likely as each other. It's unfair on students who weren't aware that the immediate impact is the basis of all multiple choice answers


Hayley

 

[andrew29223]

Well maybe they should mention on the paper that it is immediate impact. Both events are as likely as each other. It's unfair on students who weren't aware that the immediate impact is the basis of all multiple choice answers


Hayley

I agree, i made these mistakes of thinking long term consequences in half yearlies and trials and was marked down. you have to realise that they want you to answer the most direct impact, increasing business costs = increase cost push. it sucks i know, your being penalised (probably) for being a smarter student!

 

[ns23q]

Went through MC with my teacher after exam, who is an HSC marker,
MC answers are (but not definitely)
1.A, 2.B, 3.C, 4.C, 5.A, 6.C, 7.A, 8.A, 9.C,10 D, 11.A, 12.B, 13.C, 14.B, 15.B, 16.D, 17.B, 18.D, 19.D, 20.D

20 is D because at the initial tariff price, the economy is in equilibrum and there are no imports, so tariff revenue rises when the tariff is lowered

14 why do you say B?

Interest rates is a definite, but i think that a higher valued AUD will increase aggregate demand rather than a lower valued. this is a little stupid because it increases imports more than exports however nonetheless i think its c because its expansionary. just curious to know why you think its B

 

[Examine]

Well maybe they should mention on the paper that it is immediate impact. Both events are as likely as each other. It's unfair on students who weren't aware that the immediate impact is the basis of all multiple choice answers


Hayley

That's the way it works though. I didn't think 3 was c due to it saying that the higher social welfare spending wasn't in proportion (so that there might be a lower percentage of social welfare at A than B).

 

[jasonz1c]

As per Q18 with the world oil supply and the house prices, wouldn't it be A?

Housing is the highest weighted factor when measuring the CPI at 22%.

 

[andrew29223]

14 why do you say B?

Interest rates is a definite, but i think that a higher valued AUD will increase aggregate demand rather than a lower valued. this is a little stupid because it increases imports more than exports however nonetheless i think its c because its expansionary. just curious to know why you think its B

Most likely to increase AD is a lower dollar, export industries more competitive, less imports, also more investment due to more competitive projects/output therefore increase in AD (C + I + G + X-M), consumption might increase due to cheaper imports but these are LEAKAGES and take away from AD

 

[NWO]

Re: General Thoughts: Economics

mc was kinda easy lol hope i got 16.20

 

[NWO]

trick question lol

cost= cost push. remember? Due to increases in costs of production, these are passed onto consumers
demand pull inflation.. increase in aggreate demand = higher prices.. na. cant be this so cost push increase or something

 

[NWO]

for q 20, a reduction in tariff= less revenue for government lol

 

[heytherewhatsup]

Why isn't 13 A and 14 c omg fml

 

[johnny_boy12]

well as far as multiple choice goes it doesn't look the greatest but the rest of the paper wasnt that hard to get at least 70+%

 

[pHyRe]

As per Q18 with the world oil supply and the house prices, wouldn't it be A?

Housing is the highest weighted factor when measuring the CPI at 22%.

But the question is asking whether you know the diff between underlying and headline. Headline = everything, underlying = excludes volatile stuff. And oil prices are most volatile (and still a large component) so it's more likely to be D.

Can someone upload the paper? I threw mine away and now i'm regretting it lol

 

[SharkeyBoy]

Yeah, someone upload the paper!!

 

[anomalousdecay]

I legit think I got 12/20 for MC lol

Better than me. Unfortunately you can't bullshit on multiple choice, unlike the other sections......

 

[bfoo]

But the question is asking whether you know the diff between underlying and headline. Headline = everything, underlying = excludes volatile stuff. And oil prices are most volatile (and still a large component) so it's more likely to be D.

Can someone upload the paper? I threw mine away and now i'm regretting it lol

Why do you have to take into account the volatility of oil prices if the MC clearly lists if there has been a change (decrease or increase)? Idk man, i'm lost..
i wrote B tho

 

[mrs_missile]

can someone please upload the paper

 

[hayleyemma96]

After looking at these answers, even though I'm convinced mine are right also (I heard they marked 2 answers right in Eco before so hopefully with the cost-push and demand-pull question), I'm looking at 15-16/20. Which is great considering I got 8/20 in half yearlies and 16/20 in trials


Hayley

 

[Examine]

Just checked, I am on 14/20 lol

 

[Renegader]

can someone please upload the paper

http://community.boredofstudies.org/showthread.php?t=313445

 

[r1b3na]

Question 3 is definitely not b, has to be c
18 is either A or D but my teacher says D, oil much more volatile than housing prices so will be removed from headline
19 is D simple calculation

for 19, wat is this simple calculation u speak of lol. never learnt it :L