- Section C Long Structured Questions 1 Suppose That The Proportion Of The 18 30 Age Group Participating In Higher Educ 1 (71.62 KiB) Viewed 59 times
SECTION C (LONG STRUCTURED QUESTIONS) 1) Suppose that the proportion of the 18-30 age group participating in higher education rises from 40 to 50 per cent. Explain what is likely to happen to the level and rate of growth of GDP in (a) the short run and (b) the long run. Specify your assumptions. 2) In the presence of Government, fiscal policy tool such as tax and government expenditure are the main mechanism to adjust and improve economic performance. Discuss this statement. 3) Hong Kong's economy will likely “remain weak” for the rest of this year, economists and trade experts told CNBC on Friday. "They're getting hit on two fronts. The protests are impacting retail sales. It is impacting tourism. Added to that, of course, you've got the U.S.-China trade war, which is impacting exports. So, we're expecting that it is unlikely that we're going to see a positive growth in Q4. We're going to see further contraction," said Sian Fenner, lead Asia economist at Oxford Economics. The Asian financial hub slid into a recession for the first time in a decade in the third quarter, according to government data published Thursday. The city's statistics agency said domestic consumption weakened amid ongoing anti-government protests. It also cited the protracted U.S.- China trade war as another factor, as Hong Kong reported “an enlarged decline” in exports. According to the excerpt, domestic spending is said to play the biggest and the most important role in driving force of the country economy. Justify your explanation using suitable concepts.