If the economy is experiencing a recession, the macroeconomic policy response is likely to be:

Lower tax rates, higher gov't spend & lower interest rates

Which of the following is unlikely to be considered an environmental cost of economic growth

An increase in net foreign debt

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Eco u2 AOS1 revision

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A #economics #VCE Unit 2 AOS 1 revision

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Questions 10

Answers

1
Which of the following measures is not designed to improve environmental outcomes?
Higher company taxes
Direct action measures
the reintroduction of a carbon tax
Environmental regulations
2
Which of the following factor is most likely to increase economic growth?
Higher terms of trade
Higher interest rates
Higher exchange rate
Higher import demand
3
If the economy is experiencing a recession, the macroeconomic policy response is likely to be:
Lower tax rates, higher gov't spend & higher interest rates
Higher tax rates, higher gov't spend & lower interest rates
Lower tax rates, lower gov't spend & lower interest rates
Lower tax rates, higher gov't spend & lower interest rates
4
Household consumption expenditure accounts for approximately
30% of GDP
40% of GDP
50% of GDP
60% of GDP
5
Which statistic provides the best measure of material living standards?
Real GDP
Real GDP per capita
Population growth
Terms of Trade
6
Which of the following is not part of the circular flow of income in an economy?
Expenditure
Income
Unemployment
Production
7
Which of the following is unlikely to be considered an environmental cost of economic growth
Climate change
Depletion of resources
An increase in net foreign debt
Deterioration of common access resources
8
Which of the following is not a leakage from the circular flow of income?
Savings
Taxes
Investment
Imports
9
Which of the following is not likely to increase aggregate demand for goods and services?
An increase in imports
A decrease in savings
An increase in exports
An increase in government expenditure
10
Which of the following factors is most likely to decrease economic growth?
Higher business confidence
Higher growth overseas
Higher interest rates
Higher productivity

Eco u2 AOS1 revision Flashcards | StudBud

Eco u2 AOS1 revision

10 termsStudBud Administration243 plays

A #economics #VCE Unit 2 AOS 1 revision

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which of the following measures is not designed to improve environmental outcomes?
Higher company taxes
Direct action measures
the reintroduction of a carbon tax
Environmental regulations
2
Which of the following factor is most likely to increase economic growth?
Higher terms of trade
Higher interest rates
Higher exchange rate
Higher import demand
3
If the economy is experiencing a recession, the macroeconomic policy response is likely to be:
Lower tax rates, higher gov't spend & higher interest rates
Higher tax rates, higher gov't spend & lower interest rates
Lower tax rates, lower gov't spend & lower interest rates
Lower tax rates, higher gov't spend & lower interest rates
4
Household consumption expenditure accounts for approximately
30% of GDP
40% of GDP
50% of GDP
60% of GDP
5
Which statistic provides the best measure of material living standards?
Real GDP
Real GDP per capita
Population growth
Terms of Trade
6
Which of the following is not part of the circular flow of income in an economy?
Expenditure
Income
Unemployment
Production
7
Which of the following is unlikely to be considered an environmental cost of economic growth
Climate change
Depletion of resources
An increase in net foreign debt
Deterioration of common access resources
8
Which of the following is not a leakage from the circular flow of income?
Savings
Taxes
Investment
Imports
9
Which of the following is not likely to increase aggregate demand for goods and services?
An increase in imports
A decrease in savings
An increase in exports
An increase in government expenditure
10
Which of the following factors is most likely to decrease economic growth?
Higher business confidence
Higher growth overseas
Higher interest rates
Higher productivity