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L2L1A balanced analysis of likely factors other than a risingrupee affecting India’s export. Application to the casematerial is expected for the full 5 marks.For a one-sided explanation of how India’s exports mayfall from a rising rupee.No mark for mere definition of exchange rate andexport. (Exports should have been defined in (b) whileexchange rate in d(i).)3-51-2(e)Comment on India’s imposition of tariffs on China’s export ofpower generators.Tariff is a tax on imports. It is usually considered an act of protectionismas the main objective is to protect domestic industry and employment bymaking imports more expensive and the domestic substitutes relativelycheaper. There are various reasons for protectionism. While some arejustified, others are not.Extract 7 has shown a clear case for the imposition of tariff on China’sexport of power equipment. The ASSOCHAM has claimed that it was acase of unfair competition from China as China exempts the productsfrom internal duties while India continues to subject their products toduties and taxes ‘to an extent of nearly 6% of the equipment cost’. Thisgives China an artificial comparative advantage, making India’s powerplants relatively more expensive and unable to compete with importsfrom China, leading to loss of employment. However, there may be anacceptable reason for the tariff imposition provided the tariff rate doesnot exceed 6%. It may be argued that a more appropriate measurewould be for India to also exempt their power plants from their internalduties and taxes. Unfortunately, China has also been widely condemnedfor keeping its currency undervalued to lend support to its exporters.This is mainly based on its relatively stable exchange rate despite itslarge and persistent balance of payments surplus and the associatedfast accumulating reserves. While this is giving China an unfairadvantage in its exports, the accusation has come more mainly from thedeveloped world of the USA and Europe.China could well be having a true comparative advantage in theproducts as its higher productivity growth as shown in Figure 2 couldmean it has become more productive than India and able to attractbuyers in India against India’s domestic products with lower pricesand/or better quality. However, given that strategic importance of powerplants to an economy, the tariff imposition may be justified.[8]
L3L2L1EA balanced discussion of the justification for India’stariff imposition on China’s export.For a one-sided discussion on whether the tariff isjustified or not.For a theoretical explanation of the objective and effectof tariff. Maximum 1 mark for a mere definition of tariffand export.A well developed evaluative judgment on India’simposition of tariff on China’s exports with respect tothe case materials.5-63-41-21-2
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: (ii)With reference to the data, ass
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
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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
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ooEspecially when demand is price i
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Therefore the market is said to be
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(b) INTRODUCTIONTo address the prob
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However, a total ban does not makes
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(7) 2011 IJC Prelim H2 Paper Q3
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Besides the above, an increase in t
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lower standard of living. This is e
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(9) 2011 VJC Prelim H2 Paper Q4Sing
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Explain how policies bring about ac
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ConclusionTo have sustained actual
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full employment, a country also
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è The boost to exports & FDI impro
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(11) 2011 HCI Prelim H1 Paper Q4Inf
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Thesis (3) -Threat to improvement i
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2 different approach to conduct mon
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Trade PoliciesIn the light of an im
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• Real-‐wage unemployment o
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Knowledge, Application, Understandi
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aggregate demand in U.S. and decrea
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Marking SchemeL3Well developed expl
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Conclusion on demand management pol
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E2 For an evaluative assessment bas
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Long run• Provided higher course
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• Exchange rate policy may not be
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economic growth, a fall in demand-d
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Illustration:Assumptions:• Only t
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(18) 2011 DHS Prelim H2 Paper Q1Sin
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Singapore does not specialise c
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As output increases, real national
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oooHigh level of integration in
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2010 IJC Prelim 2010 H2 Paper Q6(a)
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