Trial HSC 2012 (1 Viewer)

[powersupply]

Hey Guys,

Came across a question in the school trial hsc for eco.
Pretty much: Year 1: CPI = 100 Labour Index = 100 Real GDP = 100
Year 2: CPI = 110 Labour Index = 102 Real GDP = 106
What is the increase in labour productivity?
No one seemed to know how to do it, and if you're wondering, school is NSBHS.
From memory, choices were 4%, 6%, 8% and 10%.

Anyone know how to do it?

Thanks in advance.

 

[barbernator]

i would assume 4%, as real production grew 6%, yet labour grew 2%. the CPI is superfluous in the question. does anyone have any other perspective?

 

[powersupply]

Yeah thats what i went with.
for my sake hope your're right.
cheers

 

[barbernator]

Yeah thats what i went with.
for my sake hope your're right.
cheers

well done, why are your trials so early?

 

[powersupply]

its been last 2 weeks of term 2 since 2010.
Not too sure why, but rumours are that the principal thought it would lessen the stress of those doing UMAT and subjects which required submissions in term 3. Cohort seems to think otherwise...

 

[barbernator]

its been last 2 weeks of term 2 since 2010.
Not too sure why, but rumours are that the principal thought it would lessen the stress of those doing UMAT and subjects which required submissions in term 3. Cohort seems to think otherwise...

that's odd. had you finished the course before the trials?

 

[powersupply]

nope still got issue 4 (policies) for eco.
same goes for all the other subjects.
so e.g. mx2 is missing mechanics and harder 3u, etc. no module c for english.

 

[RishBonjour]

labour index is referring to the labour price index?

4% seems right, but not sure.
If that question was in HSC, only a few would get it right without guessing.

What was your trial essay on? did you have 2?

 

[powlmao]

Do you have a copy of your poaper

 

[powersupply]

yep labour index refers to labour price index
and we had one essay, choice between two: causes/effects/policies of inflation or persistent cad and high net foreign debt

 

[powersupply]

Do you have a copy of your poaper

Nope, the test was on wednesday. so results + paper next term

 

[powlmao]

Give me copy when youget it back?

 

[23011]

i would go for 4% logically.
my logic:
The CPI is irrelevant so ignore that, real GDP increased by 6% and the price of labour increased by 2%. productivity of labour is dependent on the output as well as the cost of labour im pretty sure. so its 6% minus the 2% rise in price therefore 4%? unless productivity has nothing to do with the cost of labour then it would 6%. but its one or the other

edit: go for 6%. labour productivity is the number of units produced per period of time. therefore inflation and labour price is irrelevant

 

[RishBonjour]

i would go for 4% logically.
my logic:
The CPI is irrelevant so ignore that, real GDP increased by 6% and the price of labour increased by 2%. productivity of labour is dependent on the output as well as the cost of labour im pretty sure. so its 6% minus the 2% rise in price therefore 4%? unless productivity has nothing to do with the cost of labour then it would 6%. but its one or the other

edit: go for 6%. labour productivity is the number of units produced per period of time. therefore inflation and labour price is irrelevant

Real GDP takes inflation into account, but I'm not sure if "labour price" is part of it
if it is. 6% should be right.

 

[powersupply]

Give me copy when youget it back?

yeah no worries

 

[p3rf3ction]

DO NOT give that turd a copy. He refuses to share and help others and does his best to take as much. Powlmao u shifty dog.

 

[jesse8]

what school do you go to??