Component

Component: Australia’s Place in the Global Economy

Question 4

Section I Section I Question 4 - 2002 HSC

Causes of improvement in an economy's terms of trade

Question 16

Section I Section I Question 16 - 2002 HSC

Type of record in Australia's balance of payment for a foreign tourist payment for hotel accommodation in Sydney

Question 17

Section I Section I Question 17 - 2002 HSC

Cause of improvement in Australia's international competitiiveness

Student Responses (16)

Exemplary response Band 5/6 response 1 Band 5/6 response 2 Band 5/6 response 3 Band 4/5 response 1 Band 4/5 response 2 Band 4/5 response 3 Band 3/4 response 1 Band 3/4 response 2 Band 3/4 response 3 Band 2/3 response 1 Band 2/3 response 2 Band 2/3 response 3 Band 1/2 response 1 Band 1/2 response 2 Band 1/2 response 3

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.

Student Responses (1)

Exemplary response 1

Question 27

Section III Section III Question 27 - 2002 HSC

Student Responses (15)

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 5

Section I Section I Question 5 - 2002 HSC

Cause of a decrease in hidden employment

Question 6

Section I Section I Question 6 - 2002 HSC

Value of the Gini coefficient shown in the Lorenz curve for a nation

Question 12

Section I Section I Question 12 - 2002 HSC

Measure of the value of the Australian dollar against the currencies of Australia's major trading partners

Question 15

Section I Section I Question 15 - 2002 HSC

Identify the year the annual inflation rate was 10%, given the Consumer Price Index for a nation over a four-year period

Question 19

Section I Section I Question 19 - 2002 HSC

Calculate the value of exports, if Y = 200, C = 50, I = 20, G = 40 and M = 30,

Question 20

Section I Section I Question 20 - 2002 HSC

Measure which could assist economic growth in developing countries

Student Responses (16)

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.

Student Responses (16)

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.

Student Responses (16)

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.

Student Responses (1)

Exemplary response 1

Question 25

Section III Section III Question 25 - 2002 HSC

Explain the role of microeconomic policies in assisting structural change in the Australian economy.

Component: Economic Policies and Management

Question 3

Section I Section I Question 3 - 2002 HSC

Statement that describes the difference between monetary policy and fiscal policy

Question 7

Section I Section I Question 7 - 2002 HSC

Feature of a fully decentralised wage determination system

Question 8

Section I Section I Question 8 - 2002 HSC

Nature of change in Government budget data for a nation over a two-year period

Question 9

Section I Section I Question 9 - 2002 HSC

Action involving government securities the Reserve Bank could take in order to reduce the rate of inflation

Question 11

Section I Section I Question 11 - 2002 HSC

Cause of shift in the supply curve indicated on a diagram of price compared to supply curve following microeconomic reforms on the Australian car industry