Eco predictions/thoughts (10 Viewers)

[Aussiecrawl]

Does anyone think something like an external stability/exchange rates essay question is possible?

 

[tvskAXatar]

Why is the answer C, not A?

 

[K2Trappy]

Does anyone think something like an external stability/exchange rates essay question is possible?

appeared in a lot of trials, and recent trends of CAS in 2019 and then back into CAD so maybe a stimulus question

 

[K2Trappy]

Why is the answer C, not A?

View attachment 45557

headline inflation is relative to previous year, so it being 1% in Y2 doesn't mean inflation has reduced, it means its gone up 1% from Y1

 

[kth9506]

anyone got any thoughts for essays that arent topic 2 (im avoiding it like the plague)

 

[realjohnpork]

Does anyone think something like an external stability/exchange rates essay question is possible?

definitely - ext stab would most likely be smth like analyse how changes in ausrtalias T&FFs affect its ES
ER could be really anything - again could be TFFs related like how to fluctuations in ERs affect Aus TFFs

Most likely going to be attached to topic 2 i don't see it being standalone

 

[realjohnpork]

anyone got any thoughts for essays that arent topic 2 (im avoiding it like the plague)

I'm 90% sure they will do micro/labour markets and some form of macro so those are the main ones I am preparing for

 

[K2Trappy]

how harsh r hsc economics markers im getting scared now

 

[realjohnpork]

how harsh r hsc economics markers im getting scared now

For our school, our trial was marked by hsc markers and they were pretty lenient - I reckon as long as you're using proper economic terminology, theory, stats (recent) and examples (covid, gfc etc) you can easily be looking at A range marks for ur essays. Knowledge of content can only take you so far

 

[onetwothreefour]

For our school, our trial was marked by hsc markers and they were pretty lenient - I reckon as long as you're using proper economic terminology, theory, stats (recent) and examples (covid, gfc etc) you can easily be looking at A range marks for ur essays. Knowledge of content can only take you so far

how many pages should I be aiming to write?

 

[realspiderman]

can anybody explain why the answer is A? i always get confused with terms of trade

 

[octavia2103]

The answer is A because the ToT has improved
Y2 = 1.095, Y3 = 1.294 (export price index/import price index)
And for the reason, you can eliminate B because the actual export price index fell from 115 to 110 so the reason for B doesn't make sense
It's ok tot confuses me too I put B first when I did this question

 

[K2Trappy]

how many pages should I be aiming to write?

most b6 exemplars on nesa are like 5-8

 

[pilot_djeddie]

View attachment 45567
can anybody explain why the answer is A? i always get confused with terms of trade

Aight bro I got you.

STEP UNO:
Whip out ur calculator and you will find that through exports divided by imports, TOT goes up leaving u with a and b

STEP DOS:
Because export prices have increased and import prices are lower, the AUD is stronger than other currencies. This means the cost of imports for us is cheaper and that inextricably, cost of overseas labour is lower since you do not need as much AUD to pay for their labour leaving you with A.

*NOTE: For b, there will be a reduced demand for exports because a stronger AUD means purchasing Australian goods and services are more expensive. Therefore foreign buyers may be incentivised to save or go looking for another economy which sells such goods and services for a cheaper price reducing demand.

 

[pilot_djeddie]

Hope this helps

 

[realspiderman]

thank you!!! i was confused about the foreign labour costs part

 

[pilot_djeddie]

thank you!!! i was confused about the foreign labour costs part

All good. The labour part can trip people up. My best advice is to always think about exchange rates . Stronger AUD means that overseas labour becomes cheaper. Conversely, weaker AUD will mean that overseas labour becomes more expensive.

 

[AWM]

what diagrams are you guys going to draw for an int organisations question?

 

[peepeepoopooo]

Anyone else complete multiple choice and short answer in less than an hour and as a result have much more than the 35 minutes they recommend for essays?

 

[peepeepoopooo]

what diagrams are you guys going to draw for an int organisations question?

Honestly that essay question doesn't really lend its self towards the use of graphs so I wouldn't worry about it.