Band

Band 2/3

Component: Australia’s Place in the Global Economy

Question 21

Section II Section II Question 21 - 2002 HSC

Using a diagram of the price of $A in $US compared to quantity of $A, (a) state the economic term for the movement of the exchange rate of the $A from $US0.50 to $US0.60; (b) outline causes of increase in demand for $A; (c) explain how the Reserve Banks could intervene in the foreign exchange market to influence the exchange rate of the $A; (d) discuss economic benefits to Australia of an appreciation of the $A.

Question 28

Section III Section III Question 28 - 2002 HSC

Analyse the impact of protectionist policies on the domestic and global economies.

Component: Economic Issues

Question 22

Section II Section II Question 22 - 2002 HSC

Using a table with data for types of labour force for a nation, (a) calculate the unemployment rate; (b) calculate the labour force participation rate; (c) explain an economic and a social cost created by unemployment; (d) explain how economic policies could be used by the Australian Government to reduce the level of unemployment.

Question 23

Section II Section II Question 23 - 2002 HSC

Using a table of data for a closed economy, (a) write a formula for the simple multiplier (k); (b) calculate the value of the simple multiplier; (c) outline how the simple multiplier can affect economic activity; (d) explain a benefit if economic growth to an economy; (e) explain the impact of economic growth on ecologically sustainable development.

Question 24

Section II Section II Question 24 - 2002 HSC

(a) Define the term inflation. (b) Outline causes of inflation. (c) Outline negative effects of inflation on an economy. (d) Explain government economic policies that could reduce the rate of inflation in an economy.

Component: Economic Policies and Management

Question 26

Section III Section III Question 26 - 2002 HSC

Analyse the impact of changes in the global economy on Australia's current account and net foreign debt.