爱德思IAL：U2 Essay真题解析
题目分析
Knowledge, application和analysis怎么写？
Economic growth Other macroeconomic objectives: balanced BOP, low unemployment, price stability, income/wealth equality, environment protection
1. Economic growth and equilibrium on the current account of the balance of payments
解释：
economic growth → higher income → extra demand for imports → worsening current account
economic growth → higher income → higher domestic consumption → some exporters may switch to demostic market → worsening current account
2. Economic growth and income equality
解释：
High income earners and those with a large number of assets may benefit more form econmic growth.
Many free market supply-side policies, such as reducing trade union power, making wages more flexible and making it easier for firms to sack workers are all likely to put downward pressure on wages.
3. Economic growth and protection of the environment
解释：
Growth in primary and secondary industries is likely to increase pollution and cause other environmental problems.
4. Economic growth and inflation
解释：
Economic growth may cause demand-pull inflation if AD grows faster than AS
Evaluation
If the economic growth is eport-led growth or driven by rising productivity, then there may be no negative effect on curren account.
Economic growth may reduce unemployment, so might make income distribution more equal. There may not be rising income inequality due to trickle-down effect.
Under some circumstances, economic growth may further improve environmental protection. Advanced technology, regulation from governments and government support of environmental quality investment, should all help to achieve this.
If the growth is driven by rising AS, then there may not be inlation. If the economy is with substantial spare resources (horizontal part of the LRAS), growth driven by rising AD may not cause inflation.
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