Criterion A: The commentary includes diagrams that are relevant to the chosen concept and topic

Comment: The student has included relevant diagrams, one to show the effects of cost-push inflation due to supply shortages caused by the pandemic and the Russia-Ukraine war, and a second diagram to show the effects of the government implementing an increase in interest rates.

Criterion A: The commentary includes diagrams that are relevant to the chosen concept and topic

Comment: The student has included relevant diagrams, one to show the effects of cost-push inflation due to supply shortages caused by the pandemic and the Russia-Ukraine war, and a second diagram to show the effects of the government implementing an increase in interest rates.

Criterion A: Each diagram included in the work is labeled and accurate, i.e does not include any mistakes or fallacies

Comment: The student is advised to include an arrow to show the decrease from Y1 to Y2. The x-axis is also missing a label, so the student is advised to label it as real GDP. The student is advised to label the intersections between AS1, AS2, and AD as E1 and E2 respectively, and refer to these equilibria in the analysis.

Criterion A: Each diagram included in the work is labeled and accurate, i.e does not include any mistakes or fallacies

Comment: The student is advised to label all the equilibrium points on the diagram (E1, E2, E3).

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion C:

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion C:

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion C:

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion C:

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion C:

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion C:

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion C:

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion C:

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion C:

Criterion C:

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion C:

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion C:

Criterion B: The commentary correctly uses subject-specific terminology that is relevant to the chosen article and key concept

Comment: The student includes a range of accurate economic terminology, such as economic well-being, inflation, aggregate demand and supply, real GDP, and monetary policy.

Criterion C:

Criterion C:

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion C:

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion C:

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion C:

Criterion B: The incorporation of subject-specific terminology is evident throughout the whole work

Comment: The student uses the included economic terminology appropriately throughout the commentary. They demonstrate an understanding of key economic concepts and apply them effectively in their analysis of the impact of an interest rate increase on economic well-being.

Criterion A: Each diagram included in the work is presented alongside an explanation, making its content and relevance clear to the reader

Comment: The student has included a full explanation for both diagrams. Diagram 1 comes with an explanation of how economic well-being is affected by the higher average price level, as well as how different stakeholders such as firms, employees, consumers, and the government are affected by cost-push inflation. Diagram 2 comes with an explanation of why increasing interest rates shifts aggregate demand to the left, causing a decrease in price levels and hence inflation.

Criterion C:

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Other:

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