Section II : Short Answer (1 Viewer)

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

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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

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kazamak said:
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

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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.
 

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