Evaluate the likely microeconomic and macroeconomic effects of the supply-side policies recently introduced in Indonesia
Edexcel A-Level Economics Paper 3 June 2018 Insert
Evaluate the likely microeconomic and macroeconomic effects of the supply-side policies recently introduced in Indonesia. (25 marks)
Plan
- Paragraph 1
- Argument: one microeconomic effect of Indonesia's supply-side policies is an increase in labour demand
- Diagram: labour demand, higher wages
- Evaluation: the effect on wages depend on PES of labour, and any shifts in supply of labour
- Paragraph 2
- Argument: one macroeconomic effect of Indonesia's supply-side policies is an increase in actual and potential economic growth
- Diagram: AD and LRAS increasing
- Evaluation: opportunity cost, time lag, national debt
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