Australia's Economy

Quiz
•
Geography
•
6th Grade
•
Medium
Lauren Armstrong
Used 241+ times
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Australia has what type of economic system?
Mixed
Market
Command
Mixed/Market
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Using this chart, you can conclude that in Australia's economy
buyers and sellers determine what goods are made.
private property is rationed out according to need.
the national government owns most of the land resources.
the provincial governments own most of the capital resources.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Australia has one of the most advanced market economies in the world, meaning the majority of economic decisions are made by
their executive branch of government.
a central economic planning committee.
their legislative branch of government.
the producers and consumers of products.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of these would Australia be MOST likely to export?
automobiles
corn
doctors
gold
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How can the government of Australia BEST contribute to the overall human capital of its citizens and improve its economy?
by investing in the Australian transportation system
by investing in the Australian public education system
by reducing the income tax rate on Australian citizens
by reducing the corporate tax rate on Australian companies
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What effect will large-scale investment in capital goods have on an economy?
It will increase economic specialization.
It will increase the unemployment rate.
It will increase average education levels.
It will increase the gross domestic product.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What will occur if large manufactures in Australia invest heavily in capital goods?
Australia's gross domestic product will rise because those investments will reduce the competition for the manufacturers' goods.
Australia’s gross domestic product will fall because those manufacturers can now fire unproductive workers.
Australia’s gross domestic product will rise because those manufacturers can produce goods more efficiently.
Australia’s gross domestic product will fall because those investments will cause the manufacturers to take out loans.
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