Section II : Short Answer (1 Viewer)

[RideTheLightnin]

Sweet! 2 marks in the bag for guessing correctly that factor/product markets question.

haha same

for the question
"Explain how fiscal pol. coudl be used by govt to reduce a deficit on the current account."

is the correct response something like
federal budget > increases taxation and comany tax > make industries more efficient and allocate resources to areas to gain more exports than imports...or something

i dunno.....i fudged the whole thing pretty much....
and the essays i just waffled shit...had no idea where i was going

 

[kazamak]

hey with the unemployment question about the two groups of the economy, was it asking for the groups with the lowest unemployment level, or highest unemployment level?

 

[sideshowtim]

hey with the unemployment question about the two groups of the economy, was it asking for the groups with the lowest unemployment level, or highest unemployment level?

i interpreted it as groups with highest unemployment level.

i did young people and indigenous australians. my one for indegenous australians came off sounding a little racist...lol...i didn't mean for it to sound like that. i spoke about alcoholism and the cycle of poverty.

 

[jackal8]

I knew factor market because oy last years teacher constantly drilling

land, labour, capital and enterprise


product market i wasn't sure of and just put

The product market is the market in which a specific product is sold.
lol. The i wrote it out and was like "=S"!!! Both word used to construct the definition, i think the term 'finished goods' had to be used.