Free Printable Week 2 IMC Australian economy and construction

Worksheets

Week 2 IMC Australian economy and construction

Total questions: 16

Worksheet time: 8mins

Name

Class

Date

What is Australia's latest International ranking for GDP

What is the approximate GDP of Australia in Trillions

1.6

1.7

1.8

1.9

What is Australia's target inflation rate ?

1-2%

2-3%

3-4%

4-5%

What is the purpose of keeping the inflation rate low ?

To increase government revenue through taxes.

To encourage higher consumer spending and debt.

To maintain economic stability and purchasing power.

To promote rapid economic growth and expansion.

What is a growing GDP an indicator of?

Decreased unemployment rates.

Increased inflation rates.

Economic growth and improved living standards.

Stagnation in industrial production.

What is excluded from the GDP ?

Exports of goods and services

Household consumption expenditures

Government spending on infrastructure

Non-market transactions and illegal activities are excluded from GDP.

How did Covid impact the Australian economy ?

Expansion of the tech industry

Increased tourism and investment

Higher consumer confidence and spending

Reduced consumer spending, business closures, increased public debt, and supply chain disruptions.

Has Australia recovered economically form Covid ?

Yes, Australia has largely recovered economically from Covid.

Australia's economy is still struggling to recover from Covid.

Australia has not made any progress in economic recovery from Covid.

All of these

What is the Reserve Bank's main strategy for reducing inflation ?

Increasing interest rates

Implementing price controls

Increasing taxes on imports

Decreasing government spending

10.

What approx. percentage of the Australian economy does construction contribute?

10%

20%

15%

11.

What are some of the impacts of high inflation ?

Higher interest rates.

Reduced housing affordability

Higher material costs

All of these

12.

Why does Australia export iron ore to China ?

To produce mobile phones components

Australia does not export steel to China.

For steel production.

China exports iron ore to Australia.

13.

Which sector of construction has the greatest value?

Commercial construction

Industrial construction

Infrastructure construction

Residential construction

14.

Which sector in Western Australia has the greatest GSP?

Manufacturing

Tourism

Construction

Mining

15.

Choose 2 construction industry issues.

Corruption

WHS issues

high numbers of employment

All of these

16.

What is Australia's approx. GDP per capita.

$60,000

$63,000

$66,000

$69,000

$72,000

100 %

Week 2 IMC Australian economy and construction

Total questions: 16

Worksheet time: 8mins

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