Suggested Answers of BT2 Revision Package - ASKnLearn

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Synthesis: Justify whether Globalization on a whole is desirable or notStill desirable as analysed above à Extent of benefits outweighs the costsdue to volatility in trade cycles especially for smaller Asian economies (Ext7) all the more there is greater dependence on external demand à hencemore desirable for small economiesL3 (5-6)L2 (3-4)L1 (1-2)E (1-2)Students are able to evaluate the desirability of globalisation through at least2 areasStudents provide one-sided answer, or two-sided argument on one areaStudents listing the benefits of globalisationStudent give valued judgment based on economic analysis
Section B: EssaysMicroeconomics:1. 2011 HCI Prelim H1 Paper Q3: CPE, Demand / Supply & Elasticities2. 2011 PJC Prelim H1 Paper Q3: Demand / Supply & Price controls3. 2011 JJC Prelim H1 Paper Q3: Demand / Supply & Elasticities4. 2011 DHS Prelim H2 Paper Q1: Elasticities & Government Policies5. 2011 RI Prelim H1 Paper Q3: Market Failure6. 2011 NJC Prelim H1 Paper Q3: Market Failure7. 2011 IJC Prelim H2 Paper Q3: Market FailureMacroeconomics:8. 2010 RVHS Prelim H2 Paper Q4: Circular Flow of Income9. 2011 VJC Prelim H2 Paper Q4: KEI/Standard of Living10. 2011 RI Prelim H2 Paper Q4: KEI and Policies11. 2011 HCI Prelim H1 Paper Q4: Macroeconomic Problems and Policies12. 2011 DHS Prelim H1 Paper Q4: Unemployment & Demand management policy13. 2011 JJC Prelim H1 Paper Q4: Macroeconomic Aims & Policies14. 2011 RVHS Prelim H2 Paper Q5: Macroeconomic Aims & Policies15. 2011 MI Prelim H1 Paper Q4: Inflation & Exchange Rate16. 2011 M1 Prelim H2 Paper 2 Q4: Monetary Policies17. 2010 ACJC Prelim 2010 H2 Paper Q6: International Trade18. 2011 DHS Prelim H2 Paper Q1: International Trade19. 2010 IJC Prelim 2010 H2 Paper Q6: International Trade
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: Increase Real output for Asiaproduc
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
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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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à growing affluence àrise in dema
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