Component

Component: Economic Issues

Question 5

Question 5

Section I Section I Question 5 - 2002 HSC

Cause of a decrease in hidden employment

Question 6

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

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

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

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

Question 20

Section I Section I Question 20 - 2002 HSC

Measure which could assist economic growth in developing countries

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 22

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)

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 23

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)

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 24

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

Question 25

Section III Section III Question 25 - 2002 HSC

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

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