How was the economics paper 3?

[bilal920]

Im dying to know some answers but ill have to wait for 24 hours 

[bilal920]

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[Hwa1]

i just wrote a huge msg but realised 24 hours havnt passed since i did it lol, overall it was OK but i'll discuss questions in a few hours :p

[bilal920]

lol sry i forgot tht there was an hour left?? big deal

[Hwa1]

some questions were completely crazy but oh well
airline thing i remember having trouble with but regarding the options....i cant remember what they were but i put B lol.
and the BOP deficit thingy i think was import tarrifs

any1 know the answers to questions:
2 - the utility thing
16 - broad/narrow money question
26 - the curve sloping down and to the left..something to do with rate of change of wages and employment
28 - natural rate of unemployment
29 - an economy has underemployed resources, how an a govt finance watevr to get them used...A was borrowing from central bank, B was borrowing from private sector. i forgot options C and D but im pretty sure it was either A or B

Another question about national income and governemnt spending, the answers were like $25,000 million etc. i put 20 (i think that was B) but i dno if its right =/

[ahaseebmirza]

2- it was 6 units i guess or option C with total utility 30
16- it was united states
26- reduction in regional unemplyment
29- finance from central bank
the other one yeah it was 20,000 multiplier being 2...
The ariline one was no entry or exit cost
for balance of payments it was direct taxes to reduce demands for import..!!
Hope i was right...

[Hwa1]

2 and 16 i got the same
26 i was gna pik A then changed my mind -.-
multiplier i got 20,000
airline one i put the right 1 then changed my mind in the last 5 mins..meh
OMG THE BOP ONE...i cant believe i got that wrong..im soooo stupid...dam...

[bilal920]

yeaaaa i got 2,16,26 rite

29 i messed it up damn as for BOP i was one of the hand ful who got tht Q in my center 

[bilal920]

ok another Q wat did u get for tht one in which the firms were in a cartel and one of them decides to cheat??

Also wat was the anser u got for the efficiency part in wich u had to rite bout the correct statement on efficiency??

[Hwa1]

The efficiency and production possiblity curve? If its productively efficient then it produces on its PPC.
Also the cartel one im pretty sure i put C, something minus something else lol

[pastyear]

the narrow and board money question---Can someone explain to me how to find the answer
and the national income and government spending . How to get the answer
How about the question about the money supply is fixed and decrease in activity level?
the philip curve one is the answer is increase in unemployment-- C?
supply curve shift to right? Is it increase in productivity?
and lastly the airline is it--- A--- what market loss and left?

[Hwa1]

I think the airline was A yeah,
does anybody know the answer to the elasticity one? (straight line graph and we had to estimate the elasticity, 0.25, 0.5 etc)

[ahaseebmirza]

I think the airline was A yeah,
does anybody know the answer to the elasticity one? (straight line graph and we had to estimate the elasticity, 0.25, 0.5 etc)

the eleasticity one was 2 because the the point was above the point wher MR cuts the axis and so elastic...i gueess the option was D but the answer was for sure 2

[ahaseebmirza]

Can anybody tell the answer of the question where there was an increase in wage and still the company employed more people... the options were monospony in labour market and perfect labour market and so onn....

[bilal920]

it was monopsony...
a similiar question has come in the past papers too