Year 12 ATAR Economics Unit 4

Year 12 ATAR Economics Unit 4

12th Grade

57 Qs

quiz-placeholder

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Year 12 ATAR Economics Unit 4

Year 12 ATAR Economics Unit 4

Assessment

Quiz

Other

12th Grade

Hard

Created by

Mandy-Jane Ellis

Used 26+ times

FREE Resource

57 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a situation where monetary policy is changed, the transmission mechanism will depend on

changes to the structure of the economy over time

asset and wealth values of high-income households.

the substitutability of imports and domestic goods and services.

whether households and firms respond by saving more now or later.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Assume the Australian Government tightens regulations on working holiday visas. The economic effect of this policy would be (ceteris paribus)

a fall in the supply of seasonal labour.

a rise in the supply of seasonal labour.

a fall in the demand for seasonal labour.

a rise in the demand for seasonal labour.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In Australia, taxation bracket creep

is the result of indexing income tax bands to inflation.

compensates taxpayers on the threshold taxation levels.

raises tax revenue without explicitly increasing tax rates.

occurs when tax revenue and expenditure work in opposition.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Within a total government budget of $300 billion, the planned surplus for the year was $4 billion. In that year, the actual budget recorded an unplanned increase of $6 billion in government expenditure. In the following year, the planned deficit was $2 billion. This suggests that

the budget outcome is expansionary.

the budget outcome is contractionary.

the government is aiming to repay debt.

the government expects a recession in the following year.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Which diagram best represents the trade-offs that should be considered with demand management policies at different points of the economic cycle?

A

B

C

D

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which statement does not describe a relationship between an equitable distribution of income and economic growth?

Higher aggregate supply leads to greater equality of income over time.

Economic growth over time may reduce equality of income in market-based economies.

Income inequality lowers aggregate demand due to the different propensities to consume.

Some level of income inequality should encourage business investment and economic activity.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Identify the most likely outcome of the movement in interest rates discussed in the statement.

Household consumption levels in Australia would continue to rise.

Production pressures in the Australian economy would decrease.

The Australian economy would be moved from its equilibrium.

The Australian dollar would depreciate against the US dollar.

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