Are you Economically Literate?

antrobus

Generali wrote: »

The way I looked at it is what gain do I get for paying for whatever arcane mode of transport it is that they use in Swansea for example? ....

Bendy buses.

They were an absolute fekkin disaster. I don't think anybody gained.

Generali wrote: »

...I'm extremely unlikely ever to go to Swansea so it's quite hard to see what utility I gain from putting a horseless carriage facility/turnpike/canal extension in place.

A more efficient delivery service from the bloomin massive Amazon fulfillment centre that they have in Swansea?

Of course, that won't benefit you, because you're away with the former convicts in Oz. But then the same would apply for anything in the UK.:)

antrobus

mwpt wrote: »

Question 3 is based on traditional understanding and is most likely still true but imo could come in for debate, given that ZIRP doesn't seem to be having the desired inflationary impact in the short term.

So the question asks you what is "most likely" to happen, and you think the answer given is "most likely still true", so therefore you agree that the answer given is correct.

The fact that the answer might not be correct in a given set of circumstances is neither here nor there. That again, is pretty standard economics. Very often, all other things are not equal.

mwpt

antrobus wrote: »

So the question asks you what is "most likely" to happen, and you think the answer given is "most likely still true", so therefore you agree that the answer given is correct.

The fact that the answer might not be correct in a given set of circumstances is neither here nor there. That again, is pretty standard economics. Very often, all other things are not equal.

Sure, and I answered it how I expected it to be graded. I'm saying that it could use a closer look. Here's the gun, shoot me!

racing_blue

18/20

I got the fast food question wrong (#1) and after antrobus's excellent explanation now understand why

I also got question #20 wrong and even after thinking about it, don't understand why. Can anyone explain please? I said money makes trading goods and services easier

racing_blue

Oh sod it, I misread the question! WRONG not CORRECT