Yes it should Kristina, I agree.
Paper 3 question on economic development, income inequality and economic growthHi Mark, question regarding (b) Explain using a PPF diagram the impact of the civil war which destroyed ‘much of the nation’s infrastructure and cost the lives of many working age people’, on the economy of Mirau. [4 marks] what...
Paper 3 question on GDP, GNI, MNCs and standard of livingHi, in the text of case study, there is: 41.1 in 2017, an improvement from 60.8 as of 2010. Should not it be 0,41 and 0,61? In the question, it is correct: (d) (i) Using a Lorenz curve diagram, explain the meaning of “a Gini coefficient of 0.41” (paragraph...
Paper 3 question on economic development, income inequality and economic growthI know what you mean Ildefonso. I think your analysis is correct. Alex
Unit 3.7(1) Market based supply-side policiesThank you, I share your view. The frequent real-world statement ”(real) salaries should only increase alongside increases in productivity” does not match well with long-run perspective. But this brings another question: IB states as the main...
Unit 3.7(1) Market based supply-side policiesHi Ildefonso, this is a very good point. In the 'real-world', I would argue it's both, and SRAS/LRAS cannot be separated. In theory and in the IB exam, they prefer LRAS being shifted with a supply-side policy. Hope this helps, Alex
Unit 3.7(1) Market based supply-side policiesHi Jinger, Thank you for your point - I understand what you are trying to say by this application of theory, external cost means the MSB is below the MPB - consumption of alcohol, for example. With an external benefit, the MSB is above the MPB...
Unit 2.8(1): Market Failure – ExternalitiesHi. I don't see clearly if supply-side policies cause a shift to the right of the SRAS, the LRAS or both. Particularly in connection with labour productivity. May I have your view?
Unit 3.7(1) Market based supply-side policiesMPB + external cost = MSB seems wrong. It should be : MPB+ External benefit = MSB Please anyone could confirm with me?
Unit 2.8(1): Market Failure – Externalities
Mark
Site authorIdeally labels should always reflect the case study, where possible but if not macro labels such as capital goods and consumer goods would be ideal. Good A and good B is a little more microeconomics focused. Goods and services would also be appropriate.
Paper 3 question on GDP, GNI, MNCs and standard of living