Qualification > Commerce
ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!
Freaked12:
--- Quote from: aangel42 on June 10, 2010, 04:29:09 pm ---oh i thought the water thing was obvious, so i picked C cuz i thought they wanted another natural resource example... i lose so many marks for stupid mistakes :(
anyway thanks!
(By the way, how many past papers have you done?)
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try to minimize your mistakes to atleast 4 or 5
and you are set for a A star iA
BlackBunny103:
--- Quote from: Ari Ben Canaan on June 10, 2010, 04:32:24 pm ---I've done all ;)
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WOW Ben seriously? You've done all MCQ from 2002 up till now, including MJ & ON? OMG
Anyways, can anyone please explain to me what is meant by this "US dollars will be dearer in terms of UK pounds." I don't understand what does dearer in this case means. And for this question, I put B but the answer is D.
Thanxx
Freaked12:
--- Quote from: BlackBunny103 on June 10, 2010, 04:37:44 pm ---WOW Ben seriously? You've done all MCQ from 2002 up till now, including MJ & ON? OMG
Anyways, can anyone please explain to me what is meant by this "US dollars will be dearer in terms of UK pounds." I don't understand what does dearer in this case means. And for this question, I put B but the answer is D.
Thanxx
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when it says it depreciates against the US dollar,it means US dollar is becoming expensive
Freaked12:
--- Quote from: BlackBunny103 on June 10, 2010, 04:37:44 pm ---WOW Ben seriously? You've done all MCQ from 2002 up till now, including MJ & ON? OMG
Anyways, can anyone please explain to me what is meant by this "US dollars will be dearer in terms of UK pounds." I don't understand what does dearer in this case means. And for this question, I put B but the answer is D.
Thanxx
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B is impossible
How could Imports of UK be getting more expensive when its depreciating against US dollar
elemis:
--- Quote from: BlackBunny103 on June 10, 2010, 04:37:44 pm ---WOW Ben seriously? You've done all MCQ from 2002 up till now, including MJ & ON? OMG
Anyways, can anyone please explain to me what is meant by this "US dollars will be dearer in terms of UK pounds." I don't understand what does dearer in this case means. And for this question, I put B but the answer is D.
Thanxx
--- End quote ---
Dearer means more expensive. As a currency depreciates imports become more EXPENSIVE and exports CHEAPER. MEMORISE THIS !!!
Because of the above rule it cant be either A or B.
With a depreciation in currency An American needs to spend LESS to get 1 pound then compared to before.
He WOULD have had to spend $1.8 to get 1 pound. Now he needs to spend $0.30 LESS.
A Britisher needs can only hope to purchase $1.50 compared to $1.80. A britisher needs to SPEND MORE to get the same value in American Currency than before.
Got it ?
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