Suggested Answers of BT2 Revision Package - ASKnLearn

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Long run• Provided higher course fee support for companies and individuals and absentee payrollsfor companies that send their workers for training so as to help Singaporeans to upgradetheir skills so that they can stay employed or seek re-employment.• Training grants were also provided for general education and skills for workers to acquirepost-graduate diploma and even university degrees so as to have a stronger impact onre-employment and retaining productive workers in the labour market.• Example: Skills Programme for Upgrading and Resilience (SPUR)• However, re-training or skills upgrading is costly, which gives rise to funding problems.Knowledge, Application, Understanding and AnalysisL3For a developed discussion on the effectiveness of a variety ofpolicies to tackle the most pressing issue brought about by theglobal financial crisis7 - 9L2For an undeveloped discussion on the effectiveness of a varietyof policies to tackle the most pressing issue brought about by theglobal financial crisisOrFor a developed explanation on the effectiveness of a policy totackle the most pressing issue brought about by the globalfinancial crisis4 - 6L1 Smattering of valid points 1 - 3EvaluationE2Limitations of interventions are well explained, coupled withfurther evaluation.3 - 4E1 Limitations of interventions are superficially explained. 1 - 2
(15) 2011 MI Prelim H1 Paper Q4“Policymakers have said recently that they will use a stronger Singaporean dollar to combatinflation, but don’t want to strengthen the currency too much because that could underminethe city-state’s export competitiveness.”Taipei Time, 15 Apr 2011a) Explain how exchange rate of a country is determined.[10]• The external value a currency refers to the price of one currency in terms of anothercurrency.• The market forces – D & S – helps to determine the exchange rate : Demand factorssuchrising/falling demand for foreign goods & services, higher investment opportunitiesin foreign countries; Supply factors – favourable government policies attracts foreigninvestment into the country or preference for S’pore produced goods & services byforeigners. These factors causes the exchange rates to change eitherfavourable/unfavourable to the country.• Explain that the S$ is weighted against a basket of currencies, under a managed floatexchange rate system.• Diagram required.Level 1 Superficial definitions or vague linkages or explanation. 1-3Level 2 Clear explanation of how exchange rates are determined. 4-7Level 3 Clear explanation of how Singapore determines its exchange rate. 8-10b) Discuss whether this policy alone was adequate to resolve inflation in Singapore.[15]• Define inflation• Recognise that the increase in GPL (inflation) is due to the rise in price of essential rawmaterials – oil, food items etc, which accounted for the more expensive imported goods=> cost push inflation.• As Singapore is highly dependent on imports both for local consumption as well as forproducing exports, the S$ cannot be too weak or strong. In this case, what MAS did wasto strengthen the S$, making its currency relatively more expensive against a basket ofcurrencies. When the S$ is strengthened, its imports, bought with S$ will now berelatively cheaper. The price of imports has fallen. Price of exports is now relatively moreexpensive, hence X may fall. Hence (X-M) may fall à fall in AD à lower growth, higherunemployment but keeping prices down and checking inflation.
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ST ANDREW’S JUNIOR COLLEGEH1 ECON
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demand for hotel accommodation. The
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Cost/Benefits/$ Welfare loss MSC =
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more than proportionate fall in qua
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Price S P 1 P 2 D 1 D 2 Market for
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ERP• Works by charging drivers an
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2010 YJC Prelims H1 Paper CSQ1: Hou
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quantity transacted increases and h
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with the large amount of subsidies
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(b) With the help of a diagram, ana
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Hence as long as the West is willin
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Marks Scheme:L3( 7 - 8m)L2(4 - 6m)L
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conclusion about absolute value of
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• Germany’s revival has been bu
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ising making labour relatively more
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(ii)With reference to the data, ass
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L3L2L1EA balanced discussion of the
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(b)Explain how a rise in interest r
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(d)Consider whether the evidence in
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The higher spending, translating in
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2010 RI (JC) Prelims H1 Paper CSQ2:
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This will increase SOL of Chinese a
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2. Appreciation is also needed to d
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Increase Real output for Asiaproduc
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Section B: EssaysMicroeconomics:1.
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Roads for Cars A X B Other infra
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With reference to Figure 2 above, (
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Conclusion:The future impact in the
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ConclusionSummarise and link to par
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Explain causes ofan increase in pri
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(b) Discuss the view that price con
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Take astandConclusionPrice ceiling
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Possible non-price determinants of
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Suggested answer (b)Price elasticit
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Limitations of non-pricing strategi
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Internet broadband connectionFoodEf
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3. Antithesis: success of policy do
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EvaluationE2For a reasoned judgemen
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Page 84 and 85: Therefore the market is said to be
Page 86 and 87: (b) INTRODUCTIONTo address the prob
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Page 96 and 97: lower standard of living. This is e
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Page 102 and 103: ConclusionTo have sustained actual
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Page 114 and 115: Trade PoliciesIn the light of an im
Page 116 and 117: • Real-‐wage unemployment o
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Page 122 and 123: Marking SchemeL3Well developed expl
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Page 134 and 135: Illustration:Assumptions:• Only t
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Page 140 and 141: As output increases, real national
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Page 144 and 145: 2010 IJC Prelim 2010 H2 Paper Q6(a)
Page 146: à growing affluence àrise in dema
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