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Year 12 Economics Unit 4 Topic 1

Authored by Mandy-Jane Ellis

Education

12th Grade

Used 3+ times

Year 12 Economics Unit 4 Topic 1
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30 questions

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1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Many economists believe that governments should be primarily concerned with increasing the growth potential of the economy, because achieving this objective is likely to

increase output

reduce short-term business costs

lead to deflation

improve living standards

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a government has as a high priority the aim of distributing income more equitably, then the two most appropriate methods would be:

regressive taxation and increase in unemployment benefits

regressive income taxation and cash benefits for social security

progressive income taxation and decreased social security benefits

increased progressive taxation at higher income levels and provision for increased aged pension rate

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under a floating exchange rate system, a fall in the Australian interest rates relative to those of the rest of the world will lead to:

a decrease in the domestic money supply

a increase in the domestic money supply

an appreciation of the Australian dollar

an depreciation of the Australian dollar

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price stability is a key government objective, primarily because it

reduces menu costs

leads to lower unemployment levels

requires fewer interventions by the central bank 

creates a better decision making environment for businesses and consumers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Governments are keen to see higher levels of employment because this enables

more government spending and more aggregate demand

higher levels of output and higher tax revenues

higher business investment and higher prices

higher output levels and lower prices

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A central bank raises interest rates, ceteris parabus this is likely to cause the following:

A fall in aggregate demand and a decrease in imports

A rise in aggregate demand and an increase in imports

A decrease in exports and a rise in economic growth

An increase in exports and a rise in economic growth

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Conflict can arise between the various government objectives, at least in the short-run; when attempting to achieve economic growth through reduced interest rates, this can lead to

an increase in the government's budget deficit

an increase in unemployment

an increase in inflation

a reduction in the equality in income distribution

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