WorksheetsYear 11 Economics
Total questions: 10
Worksheet time: 3mins
Name
Class
Date
1.
Which of these is a lagging economic indicator?
a)
Building approvals
b)
Unemployment
c)
Inflation
d)
Economic growth
2.
High levels of inflation is typical in which phase of the business cycle?
a)
Trough
b)
Upswing
c)
Peak
d)
Downswing
3.
Which is NOT part of the four sector circular flow model?
a)
Households
b)
Firms
c)
Government
d)
Overseas
4.
Unemployment caused by skills mismatches between employers and employees is:
a)
Structural unemployment
b)
Frictional unemployment
c)
Cyclical unemployment
d)
Voluntary unemployment
5.
Gross domestic product does NOT include
a)
Government expenditure
b)
Household expenditure
c)
Exports
d)
Imports
6.
Which has been a foundation of Australia's economic growth?
a)
Manufacturing exports
b)
High savings rates
c)
Significant resource deposits
d)
Strong, stable government and long serving Prime Ministers
7.
Australian televisions cost more than foreign televisions. Australia should
a)
Export Australian televisions at the Australian price
b)
Export Australian televisions at the foreign price
c)
Import televisions at the Australian price
d)
Import televisions at the foreign price
8.
Which of the following statements about trade is FALSE?
a)
Trade can have positive and negative impacts
b)
Trade allows resource shortages to be minimised
c)
Trade benefits nations with different levels of development
d)
Every person in an economy benefits from trade
9.
In 2015-2016, Australia's largest two way trading partners were
a)
China, United States
b)
China, Japan
c)
Japan, United States
d)
China, South Korea
10.
Government spending as a percentage of Australian GDP is approximately:
a)
16%
b)
26%
c)
36%
d)
46%
100 %
