Suggested Answers of BT2 Revision Package - ASKnLearn

More documents

Recommendations

Info

è The boost to exports & FDI improve both the current and financial accounts ofSingapore’s BOP.Anti-thesis: A productivity-driven growth cannot guarantee the achievement of FE inSingapore. In addition, raising productivity growth is not without problems anduncertainties.§ Impact on full-employmentè Achieving full employment level of national income requires that AD issufficiently high to buy the potential output. However, the level of AD dependson many factors, including business and consumer confidence. A policyfocusing on raising productivity cannot effectively counter such fluctuations inAD because such a policy is a LT supply-side policy aimed primarily atshifting the AS.è However, during a recession, the Singapore government does step up itsspending on productivity to “kill two birds with one stone”, i.e. stimulate somedemand and alleviate cyclical unemployment while boosting future potentialgrowth. But such a policy alone is insufficient due to its limited impact on AD.Hence the government needs to adopt additional stimulus to boost AD.§ Issues on unemployment rateè If growth of AD does not keep pace with potential growth, unemployment ratewill rise.§ Issues in increasing productivityè While increasing productivity growth is a desirable and necessary growthdirection for Singapore in view of intensified global competition, there aremany problems in raising productivity. It not only takes time, it is also a costlyinvestment and a heavy drain on govt finances. The outcome is uncertaindepending not only on the workers receptiveness but also the quality oftraining.Conclusion & Overall Evaluation§ Make a judgement on SR & LR impact of policy on macro goals—LR impact largelyfavourable, but the policy cannot resolve Singapore’s underlying vulnerability toexternal shocks and FE in Singapore still depends on external conditions.§Make a judgement on the difference between the policy of focusing on productivityincrease versus the past strategy of heavy reliance on foreign labour.Mark Scheme: Knowledge, Application, Understanding, AnalysisL1 -‐ General remarks on the impact of the policy with or withoutreference to the macro goals-‐ No evidence of theoretical framework-‐ Good analysis on the thesis, but no evidence of any attempt toprovide an anti-thesis.L2 -‐ Clearly discuss the impact of the policy on at least 2 of the 4macro goals, using a clear theoretical framework1 – 45 - 9
-‐ Or discuss the impact on all 4 macro goals but weak intheoretical framework-‐ A good answer with theoretical framework but no reference atall to measures adopted by Singapore government to raiseproductivity-‐ largely one-sided answer, either weak thesis or weak antithesis.L3 -‐ Discuss impact on all 4 macro goals with a clear theoreticalframework, showing a balanced analysis with scope & depth10 -13EvaluationE1 An unexplained judgement. 1 – 2E2Evaluative assessment supported by economic analysis. 3 - 4
Page 1 and 2:
ST ANDREW’S JUNIOR COLLEGEH1 ECON
Page 3 and 4:
demand for hotel accommodation. The
Page 5 and 6:
Cost/Benefits/$ Welfare loss MSC =
Page 7 and 8:
more than proportionate fall in qua
Page 9 and 10:
Price S P 1 P 2 D 1 D 2 Market for
Page 11 and 12:
ERP• Works by charging drivers an
Page 13 and 14:
2010 YJC Prelims H1 Paper CSQ1: Hou
Page 15 and 16:
quantity transacted increases and h
Page 17 and 18:
with the large amount of subsidies
Page 19 and 20:
(b) With the help of a diagram, ana
Page 21 and 22:
Hence as long as the West is willin
Page 23 and 24:
Marks Scheme:L3( 7 - 8m)L2(4 - 6m)L
Page 25 and 26:
conclusion about absolute value of
Page 27 and 28:
• Germany’s revival has been bu
Page 29 and 30:
ising making labour relatively more
Page 31 and 32:
(ii)With reference to the data, ass
Page 33 and 34:
L3L2L1EA balanced discussion of the
Page 35 and 36:
(b)Explain how a rise in interest r
Page 37 and 38:
(d)Consider whether the evidence in
Page 39 and 40:
The higher spending, translating in
Page 41 and 42:
2010 RI (JC) Prelims H1 Paper CSQ2:
Page 43 and 44:
This will increase SOL of Chinese a
Page 45 and 46:
2. Appreciation is also needed to d
Page 47 and 48:
Increase Real output for Asiaproduc
Page 49 and 50:
Section B: EssaysMicroeconomics:1.
Page 51 and 52:
Roads for Cars A X B Other infra
Page 53 and 54:
With reference to Figure 2 above, (
Page 55 and 56: Conclusion:The future impact in the
Page 57 and 58: ConclusionSummarise and link to par
Page 59 and 60: Explain causes ofan increase in pri
Page 61: (b) Discuss the view that price con
Page 64 and 65: Take astandConclusionPrice ceiling
Page 66 and 67: Possible non-price determinants of
Page 68 and 69: Suggested answer (b)Price elasticit
Page 70 and 71: Limitations of non-pricing strategi
Page 72 and 73: Internet broadband connectionFoodEf
Page 74 and 75: 3. Antithesis: success of policy do
Page 76 and 77: EvaluationE2For a reasoned judgemen
Page 78 and 79: LevelsL3(7m - 10m)L2(5m - 6m)L1(1m
Page 80 and 81: Subsidies to ConsumersWith governme
Page 82 and 83: ooEspecially when demand is price i
Page 84 and 85: Therefore the market is said to be
Page 86 and 87: (b) INTRODUCTIONTo address the prob
Page 88 and 89: However, a total ban does not makes
Page 90: (7) 2011 IJC Prelim H2 Paper Q3
Page 94 and 95: Besides the above, an increase in t
Page 96 and 97: lower standard of living. This is e
Page 98 and 99: (9) 2011 VJC Prelim H2 Paper Q4Sing
Page 100 and 101: Explain how policies bring about ac
Page 102 and 103: ConclusionTo have sustained actual
Page 104 and 105: full employment, a country also
Page 108 and 109: (11) 2011 HCI Prelim H1 Paper Q4Inf
Page 110 and 111: Thesis (3) -Threat to improvement i
Page 112 and 113: 2 different approach to conduct mon
Page 114 and 115: Trade PoliciesIn the light of an im
Page 116 and 117: • Real-‐wage unemployment o
Page 118 and 119: Knowledge, Application, Understandi
Page 120 and 121: aggregate demand in U.S. and decrea
Page 122 and 123: Marking SchemeL3Well developed expl
Page 124 and 125: Conclusion on demand management pol
Page 126 and 127: E2 For an evaluative assessment bas
Page 128 and 129: Long run• Provided higher course
Page 130 and 131: • Exchange rate policy may not be
Page 132 and 133: economic growth, a fall in demand-d
Page 134 and 135: Illustration:Assumptions:• Only t
Page 136 and 137: (18) 2011 DHS Prelim H2 Paper Q1Sin
Page 138 and 139: Singapore does not specialise c
Page 140 and 141: As output increases, real national
Page 142 and 143: oooHigh level of integration in
Page 144 and 145: 2010 IJC Prelim 2010 H2 Paper Q6(a)
Page 146: à growing affluence àrise in dema
show all

Suggested Answers of BT2 Revision Package - ASKnLearn

Create successful ePaper yourself

Delete template?

Save as template?