sajtkukac12 Posted May 5, 2016 Report Share Posted May 5, 2016 How did you guys find the paper? Which of the questions did you select? Reply Link to post Share on other sites More sharing options...
sajtkukac12 Posted May 5, 2016 Author Report Share Posted May 5, 2016 In question 3, I found it difficult to calculate a GDP deflator using the CPI data. The other parts of the paper were OK for me. Reply Link to post Share on other sites More sharing options...
simon9867 Posted May 5, 2016 Report Share Posted May 5, 2016 I did question 2 and 3. I had some trouble with the Terms of trade section. Is it ok if defined terms of trade as the ratio between the value of a country's exports and the value of its imports?. Reply Link to post Share on other sites More sharing options...
inriya Posted May 5, 2016 Report Share Posted May 5, 2016 Question 2 and 3 are easy tbh, compared to May 2015. 1 hour ago, simon9867 said: I did question 2 and 3. I had some trouble with the Terms of trade section. Is it ok if defined terms of trade as the ratio between the value of a country's exports and the value of its imports?. Yes! That's a nice definition. Reply Link to post Share on other sites More sharing options...
#teamnosleep Posted May 6, 2016 Report Share Posted May 6, 2016 What about defining the terms of trade as the ratio of a country's index of export prices to index of import prices? How screwed am I if I wrote the formula for terms of trade as index of export prices over the index of import prices times 100% without the word average? Am I the only one who did question 1 and 2? Did all of you answer all questions? 1 Reply Link to post Share on other sites More sharing options...
Elc Posted May 6, 2016 Report Share Posted May 6, 2016 @#teamnosleep Did question 1 and 2 here, feel horrified now since I didn't include the word "average" either. Reply Link to post Share on other sites More sharing options...
sajtkukac12 Posted May 6, 2016 Author Report Share Posted May 6, 2016 But does not the word index imply that you mean an average of something? Anyway, the mark scheme reward a vague definition with 1 mark, so you may expect 1 out of 2 in the worst case. Reply Link to post Share on other sites More sharing options...
shraddhaj Posted May 6, 2016 Report Share Posted May 6, 2016 I did 1 and 3 and found them both to be quite easy. Easiest eco paper of the 3. Reply Link to post Share on other sites More sharing options...
Sandy Posted May 7, 2016 Report Share Posted May 7, 2016 I did 1 and 2. In the first question, what was the answer to why do members cheat?/what incentive do they have to cheat? and why do carters not last for long? I don't remember the exact questions...I hope you understand what I'm talking about though xp Reply Link to post Share on other sites More sharing options...
#teamnosleep Posted May 7, 2016 Report Share Posted May 7, 2016 21 hours ago, sajtkukac12 said: But does not the word index imply that you mean an average of something? Anyway, the mark scheme reward a vague definition with 1 mark, so you may expect 1 out of 2 in the worst case. Idk, in the Welkers textbook the definition mention both index and average in the same sentence. I hope the IB does not penalize us :(. @Elc: Just keep your fingers crossed and hope for at least 1 out of 2 in the worst case. @shraddhaj: What was your answer to Bostwana's current account balance question? Reply Link to post Share on other sites More sharing options...
sajtkukac12 Posted May 7, 2016 Author Report Share Posted May 7, 2016 7 hours ago, #teamnosleep said: Idk, in the Welkers textbook the definition mention both index and average in the same sentence. I hope the IB does not penalize us :(. @Elc: Just keep your fingers crossed and hope for at least 1 out of 2 in the worst case. @shraddhaj: What was your answer to Bostwana's current account balance question? I think for Botswana's current account balance, you could talk about the J-curve effect. After a depreciation of the BWP, when the Marshall-Lerner condition is not satisfied, the current account balance deteriorates. However, in the long run, when demand for exports from Botswana and demand for imorts in Botwswana becomes more elastic, a depreciation will improve the current account balance. Reply Link to post Share on other sites More sharing options...
#teamnosleep Posted May 8, 2016 Report Share Posted May 8, 2016 11 hours ago, sajtkukac12 said: I think for Botswana's current account balance, you could talk about the J-curve effect. After a depreciation of the BWP, when the Marshall-Lerner condition is not satisfied, the current account balance deteriorates. However, in the long run, when demand for exports from Botswana and demand for imorts in Botwswana becomes more elastic, a depreciation will improve the current account balance. Ah man, totally forgot to mention the J-curve effect . I only talked about how the depreciation of BWP leads to Bostwana's current account balance going through a deficit :(. Reply Link to post Share on other sites More sharing options...
sajtkukac12 Posted May 8, 2016 Author Report Share Posted May 8, 2016 9 hours ago, #teamnosleep said: Ah man, totally forgot to mention the J-curve effect . I only talked about how the depreciation of BWP leads to Bostwana's current account balance going through a deficit :(. They may not even ask for it. I think there wasn't enough space to explain the entire J-curve effect, so it is probably enough to justify why the current account would improve, without making any reference to PED of exports and imports. Reply Link to post Share on other sites More sharing options...
Mad Hatter Posted August 10, 2016 Report Share Posted August 10, 2016 P3 wasn't that bad. I remember a couple of small questions I wasn't that sure. P2 there was one big development question that I had no idea... I have never read nor heard anything of it in the textbook. So I tried to think, suggest and basically bs 1.5 pages... Reply Link to post Share on other sites More sharing options...
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