For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Transactions Chapter: 11 and 12 Notes made using BPP Learning Media Course Book

For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Transactions Chapter: 8, 9 and 10 Notes made using BPP Learning Media Course Book

For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Transactions Chapter: 6 and 7 Notes made using BPP Learning Media Course Book

For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Transactions Chapter: 3, 4 and 5 Notes made using BPP Learning Media Course Book

For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Transactions Chapter: 1 and 2 Notes made using BPP Learning Media Course Book

For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Controls Chapter: 6 Notes made using BPP Learning Media Course Book

For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Controls Chapter: 4 and 5 Notes made using BPP Learning Media Course Book

For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Controls Chapter: 3 Notes made using BPP Learning Media Course Book

For AAT Level 2 Foundation Certificate in Accounting Module: Bookkeeping Controls Chapter: 1 and 2 Notes made using BPP Learning Media Course Book

MODEL ANSWER Extract C (line 15) states that due to globalisation, ‘for many workers in the West economic stagnation is actually now the new norm’. Using the data in the extracts and your economic knowledge, assess the view that globalisation has been entirely advantageous to the UK economy. (25 marks)

MODEL ANSWER Extract B (lines 7-8) states that increased openness of the UK economy has ‘weakened the usual link between the amount of spare capacity in an economy and inflationary pressure’. With the help of a diagram, explain why the level of spare capacity is usually inversely correlated with the amount of inflationary pressure in an economy. (9 marks)

MODEL ANSWER Extract F (line 1) states that “The fall in oil prices has been a “net good” for the UK economy”. Using the data in the extracts and your economic knowledge, assess the view a sustained fall in the price of oil can only have positive outcomes for the UK economy. (25 marks)

MODEL ANSWER Extract E (lines 8 - 9) states that ‘the collapse in the oil price has had significant effects on the economy of Saudi Arabia‘. Using a diagram, explain the likely effect on growth, employment and inflation in Saudi Arabia of the recent collapse in the price of oil. (9 marks)

MODEL ANSWER Extract C (lines 10-11) suggests that ‘Increased protectionism could be damaging as the UK is placing much of its hopes for export success on the growing Chinese market’. Using the data in the extracts and your economic knowledge, evaluate the view that the use of protectionism is inevitably damaging to economies. (25 marks)

MODEL ANSWER Extract B (lines 12-13) states ‘The Government last night released research suggesting a US-EU agreement sweeping away trade barriers would particularly benefit the automotive, financial and chemical sectors’. With the help of a diagram, explain the extent to which the removal of a tariff might affect the volume of imports into the UK. (9 marks)

MODEL ANSWER Extract F (lines 14-17) states ‘Investment forecasts are being revised downward and on top of speculation of interest rate rises and criticism of the UK’s quantitative easing programme, the outlook is not looking as good as forecasts first indicated.’ Using the data in the extracts and your economic knowledge, evaluate the effectiveness of monetary policy in achieving macroeconomic stability in the UK. (25 marks)

MODEL ANSWER Extract E (lines 4-6) states ‘the UK may soon be growing at an annual rate of between 3 and 4% and the Bank could not be certain when it might need to tighten policy.’ With the help of a diagram, explain why interest rates may need to rise if growth rates increase (9 marks)