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MJC 2007 Prelim H2 P2 Qn Paper

MJC 2007 Prelim H2 P2 Qn Paper

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Published by Fang Wen Lim
MJC 2007
MJC 2007

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Published by: Fang Wen Lim on Aug 01, 2013
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9732/JC2 PRELIM EXAM /MJC/2007
Additional materials: Answer Booklet/Paper
READ THESE INSTRUCTIONS FIRSTDo not open this booklet until you are told to do so
.Write your name, class and register number on all the work you hand in.Write in dark blue or black pen.You may use a soft pencil for any diagrams, graphs or rough working.Do not use staples, paper clips, highlighters, glue or correction fluid.Answer
questions in total, of which
must be from Section A,
from Section B and
Section A or Section B.At the end of the examination, fasten all your work securely together.The number of marks is given in brackets [ ] the end of each question or part question.
[Turn Over
questions in total.
 Higher 2
Paper 2
2007 JC 2 PRELIMINARY EXAM2 hours 15 minutes
10 September 2007
 This document consists of
printed pages
9732/JC2 PRELIM EXAM /MJC/2007
Section AOne or two
of your three chosen questions must be from this section.
Section BOne or two
of your three chosen questions must be from this section.4 Singapore government supply-side policies have created a more dynamicand flexible labour market. Between 2003 and 2006, unemployment fellfrom 4.0% to 2.7% yet inflation remains at less than 2%.a Why has the Singapore economy had low unemployment and low inflationin recent times?[10]b Discuss whether the Singapore government should ever be concernedabout the economic consequences of falling unemployment.[15]5 Trade between Singapore and New Zealand jumped 35% in the first twomonths of this year compared with the same period last year after theimplementation of a bilateral free trade agreement (FTA).a Explain the economic justification for Singapore in the signing of FreeTrade Agreement with other countries.[12]b Discuss the view that the key benefits that Singapore may enjoy as a resultof the FTA may be in conflict with some of the government’s mainmacroeconomic goals.[13]6 Lower interest rate encourages borrowing and higher house prices.’a Explain the impact of lower interest rate and higher house prices onaggregate consumption.[10]b To what extent does consumption contribute to the economic growth ofyour economy?[15]
‘Global temperature will be staggering 4
higher by the end of the century,assuming no change to greenhouse emissions. ‘
Economics Today, September 2006 
1 a Why are ‘market forces’ insufficient to prevent greenhouse gas emissions? [10]b Assess the policies the Singapore government can adopt to contain theproblem of rising greenhouse gas emissions.[15]2 “Private housing prices are now increasing at a faster pace because of goodeconomic prospects and the increasing attractiveness of Singapore as aglobal city. The government will continue to monitor the market very closelyand ensure that there will be sufficient supply of residential space to meetdemand."
AsiaOne, Jul 02, 2007 
 a With reference to the market for housing in Singapore, discuss whetherhousing is a normal or inferior good.[10]b Discuss the determinants of housing prices in Singapore. [15]3 Discuss the extent to which monopoly is a realistic market structure inSingapore.[25]

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