"If you only do what you can do, you'll never be better than what you are." - Shifu
1(a) Explain how labour market reforms may be used to promote economic growth.
普遍问题：审题不过关，叮嘱的考试重点没有复习到位，基本概念不清，融会贯通能力和灵活性不足。分不清充分就业产出和均衡产出。
Answers may include:
• definitions of labour market reforms, economic growth
• explanation of how making labour markets more flexible may lead to an increase in efficiency and economic growth (by improving quantity and/or quality of labor and/or productivity)
• diagram to show the labour market (AD/AS or ADL/ASL) lending to economic growth (an increase in equilibrium actual output level or potential output level)
• examples of labour market reforms, both interventionist and market-oriented, such as reducing unemployment benefits, reducing the power of labour unions and abolishing minimum wages,expenditure on education and training, introduction of minimum wages to increase participation rates, to increase consumption and promote economic growth.
(b) “Market-oriented supply-side policies will always be more effective in promoting economic growth than demand-side policies.” To what extent do you agree with this statement?
普遍问题：没有列举market-oriented supply-side policies的细分类，没有分门别类地逐一分析对economic growth的影响。甚至有一部分同学答题没有回应economic growth这个主题，基本概念也没写出来。没有分别考虑对短期增长和长期增长的影响。
Answers may include:
• definitions of market-oriented policies (as against interventionist policies), demand-side policies and economic growth
• theory of Aggregate Demand and Aggregate Supply and how either may be used to increase real GDP
• diagrams to show increased real GDP resulting from changes to AD and AS
• examples of market-oriented supply-side policies and demand-side policies
• synthesis and evaluation (to what extent).
Consideration of the merits of the statement may include: discussion of the term effectiveness in the context of economics.
Candidates may distinguish the effectiveness of each policy in the short run and the long run.
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