In the aggregate demand formula: C + I + G + (X - M), the letters stand for:

Consumption, Investment, Government spending, Exports and Imports

Economic growth can be defined as

increased volume of goods and services produced.

Which one of the following statements about the Labour Force Survey is not true?

It involves about 50 per cent of the civilian population

Which one of the following is an example of seasonal unemployment?

Somebody who loses their job at a beach café when it closes for winter

When does inflation occur?

When there is an increase in the price of goods and services

According to the liveability ranking survey, the two most important criteria for people living within a city are:

Stability and Culture & Environment

Which one of the following statements about the limitations of GDP is correct?

It allows us to divide production into different industries.

Which one of the following won’t lead to cyclical unemployment?

an increase in government spending to stimulate the economy

Unemployment has a number of negative effects on the economy, society and individuals including:

Changed government budget position.

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Measuring Economic Performance

20 termsStudBud Administration226 plays

Year 10 Economics Chapter 6 Indicators of economic performance (e.g. economic growth rates, unemployment trends, inflation rates, human development index, quality of life index, sustainability indexes) and how Australia’s economy is performing (ACHEK050)

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
In the aggregate demand formula: C + I + G + (X - M), the letters stand for:
Consumption, Investment, Government spending, Exports and Imports
Consumers, Investors, Government, Exports and Imports
Customers, Indirect taxes, GDP, Exports and Imports
Consumption, Investment, Goods and services, Exports and Imports
2
What is the optimum rate of economic growth?
3–4 per cent per year
2–3 per cent per year
4–5 per cent per year
There is no optimum growth rate.
3
What is the government’s targeted rate of inflation over the course of a business cycle?
2-3 per cent
4-5 per cent
Zero
1–2 per cent
4
Economic growth can be defined as
increased price of goods and services consumed.
increased volume of goods and services produced.
increased volume of goods and services consumed.
increased price of goods and services produced.
5
Which one of the following statements about the Labour Force Survey is not true?
It is conducted monthly
It involves members of the civilian population aged 15 years and over
It involves about 50 per cent of the civilian population
The sample is selected from around the country
6
Which one of the following is an example of seasonal unemployment?
Somebody who becomes unemployed because they move state
Somebody who loses their job at a beach café when it closes for winter
Somebody currently working as a strawberry picker on a farm
Somebody who loses their job as a ski-lift operator for incompetence
7
Which one of the following is a quantitative economic measure?
HDI
GPI
MAP
GDP
8
Based on the data in the following table, in which of the following years has a recession occurred?
2018 only
Neither 2018 or 2019
Both 2018 and 2019
2019 only
9
What is the government’s targeted rate of unemployment?
5%
0%
3%
7%
10
What is the most commonly used measure of economic growth?
PPP
CPI
GDP
GNI
11
When does inflation occur?
When there is an increase in the quantity of goods and services
When there is an increase in the size of goods and services
When there is an increase in demand for goods and services
When there is an increase in the price of goods and services
12
What is the CPI used to measure?
Consumer Power Influence
Gross domestic spending
Consumer Spending
Inflation
13
Which one of the following is not a cause of structural unemployment?
changes in technology
A downturn in the economy
A change in production methods, leading to a mismatch of skills
Outsourcing tasks to another company
14
According to the liveability ranking survey, the two most important criteria for people living within a city are:
Infrastructure and Culture & Environment
Education and Healthcare
Stability and Culture & Environment
Healthcare and Stability
15
Which one of the following is a qualitative economic measure?
GDP
GPI
GNI
CPI
16
Which one of the following statements about the limitations of GDP is correct?
It allows us to divide production into different industries.
It considers environmental impacts.
It includes non-market production.
It provides information regarding the distribution of production.
17
What is the labour force survey used to measure?
The number of working adults in Australia
Underemployment
Unemployment
Inflation
18
Which one of the following won’t lead to cyclical unemployment?
a reduction in consumer incomes
higher interest rates leading to less money available for spending
poor economic conditions overseas among our trading partners
an increase in government spending to stimulate the economy
19
Which of the sustainability indices is published by the ABS and is measured according to 4 main categories?
The World Happiness Report
Human Development Index
The Genuine Progress Indicator
Measuring Australia's Progress
20
Unemployment has a number of negative effects on the economy, society and individuals including:
Improved living standards
Increased national production
Changed government budget position.
All the above

Measuring Economic Performance Flashcards | StudBud

Measuring Economic Performance

20 termsStudBud Administration226 plays

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
In the aggregate demand formula: C + I + G + (X - M), the letters stand for:
Consumption, Investment, Government spending, Exports and Imports
Consumers, Investors, Government, Exports and Imports
Customers, Indirect taxes, GDP, Exports and Imports
Consumption, Investment, Goods and services, Exports and Imports
2
What is the optimum rate of economic growth?
3–4 per cent per year
2–3 per cent per year
4–5 per cent per year
There is no optimum growth rate.
3
What is the government’s targeted rate of inflation over the course of a business cycle?
2-3 per cent
4-5 per cent
Zero
1–2 per cent
4
Economic growth can be defined as
increased price of goods and services consumed.
increased volume of goods and services produced.
increased volume of goods and services consumed.
increased price of goods and services produced.
5
Which one of the following statements about the Labour Force Survey is not true?
It is conducted monthly
It involves members of the civilian population aged 15 years and over
It involves about 50 per cent of the civilian population
The sample is selected from around the country
6
Which one of the following is an example of seasonal unemployment?
Somebody who becomes unemployed because they move state
Somebody who loses their job at a beach café when it closes for winter
Somebody currently working as a strawberry picker on a farm
Somebody who loses their job as a ski-lift operator for incompetence
7
Which one of the following is a quantitative economic measure?
HDI
GPI
MAP
GDP
8
Based on the data in the following table, in which of the following years has a recession occurred?
2018 only
Neither 2018 or 2019
Both 2018 and 2019
2019 only
9
What is the government’s targeted rate of unemployment?
5%
0%
3%
7%
10
What is the most commonly used measure of economic growth?
PPP
CPI
GDP
GNI
11
When does inflation occur?
When there is an increase in the quantity of goods and services
When there is an increase in the size of goods and services
When there is an increase in demand for goods and services
When there is an increase in the price of goods and services
12
What is the CPI used to measure?
Consumer Power Influence
Gross domestic spending
Consumer Spending
Inflation
13
Which one of the following is not a cause of structural unemployment?
changes in technology
A downturn in the economy
A change in production methods, leading to a mismatch of skills
Outsourcing tasks to another company
14
According to the liveability ranking survey, the two most important criteria for people living within a city are:
Infrastructure and Culture & Environment
Education and Healthcare
Stability and Culture & Environment
Healthcare and Stability
15
Which one of the following is a qualitative economic measure?
GDP
GPI
GNI
CPI
16
Which one of the following statements about the limitations of GDP is correct?
It allows us to divide production into different industries.
It considers environmental impacts.
It includes non-market production.
It provides information regarding the distribution of production.
17
What is the labour force survey used to measure?
The number of working adults in Australia
Underemployment
Unemployment
Inflation
18
Which one of the following won’t lead to cyclical unemployment?
a reduction in consumer incomes
higher interest rates leading to less money available for spending
poor economic conditions overseas among our trading partners
an increase in government spending to stimulate the economy
19
Which of the sustainability indices is published by the ABS and is measured according to 4 main categories?
The World Happiness Report
Human Development Index
The Genuine Progress Indicator
Measuring Australia's Progress
20
Unemployment has a number of negative effects on the economy, society and individuals including:
Improved living standards
Increased national production
Changed government budget position.
All the above