1a) Using appropriate examples, explain and ilustrate the terms "externality" and "public goods".
b) Assess whether the measures stated above is the best way to curb pollution in China.
5a) Explain how the inflation rate might affect the exchange rate of a country.
b) Assess whether managing exchange rates is the only policy that an economy might adopt to tackle ailing export competitiveness.
6a) "Both trade barrieres and barriers to entry into an industry result in inefficiency." Explain this statement.
b) Does free trade necessarily lead to an increase in the standard of living in a country?
b) Assess whether the measures stated above is the best way to curb pollution in China.
5a) Explain how the inflation rate might affect the exchange rate of a country.
b) Assess whether managing exchange rates is the only policy that an economy might adopt to tackle ailing export competitiveness.
6a) "Both trade barrieres and barriers to entry into an industry result in inefficiency." Explain this statement.
b) Does free trade necessarily lead to an increase in the standard of living in a country?
Questions 5a and 6a are tough. Despite my 'past training' in writing 3h-long History essays in previous exams, my hands died while writing my last Econs essay in the 2h 15mins marathorn. haha Royce, Jeffrey and I were talking about 'training our fingers' by doing twinkies (opening and closing your fist repeatedly) xD If that's the case, I think I'd rather stick to snapping my fingers. Imagine doing twinkies while reading! What an amusing sight indeed.
Anyway! Saw this quote from Nigel's blog which is really nice (:
And to phrase a quote from Betty differently, all I want is to look up the word 'friends' in the dictionary and see a photograph of us together there.
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