tw85246 Posted March 25, 2017 Report Share Posted March 25, 2017 Hi, I have a question about paper 1 that I would like to ask you guys about. So... how do I use real world examples for Macroeconomics? I find it pretty difficult to use real world examples for many topics in macroeconomics because we can't talk about a single product or a market, but we must look at the entire economy in general. For example, I think its pretty hard to think of an example to answer a question like "Explain the reasoning behind the shapes of the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve". What would you guys suggest? I am struggling hard because I dont have a teacher and my exams are coming up in a month. Please help! Reply Link to post Share on other sites More sharing options...
King112 Posted April 19, 2017 Report Share Posted April 19, 2017 Hey there, So integration of examples is pretty straightforward. Simplest way I can explain it is to use the example to explain theory. EG: China has invested in robots, which is expected to exceed 30bn$ by 2020. This means that the FOPs have gotten more efficient, yadayada. Or another way: Venezuela in 2016 had over 100% inflation. This leads to costs like Shoe leather costs and menu costs yadayada. Hope this helps! Best of luck with your exams Reply Link to post Share on other sites More sharing options...
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