HSC Economics - Sample Trial Paper 1
Section I: Multiple Choice 1. What is the likely impact of Japan increasing its quota on the importation of Australian beef?
A) Australian beef farmers will gain increased access to Japanese beef markets B) Japanese beef farmers will gain increased protection from Australian beef imports C) There will be an increase in employment opportunities in the P\Japanese beef industry D) There will be a decrease in employment opportunities in the Australian beef industry
2. What indicators are used to calculate the Human Development Index (HDI)?
A) Population growth, per capita GDP, life expectancy B) Population growth, infant mortality rate, malnutrition C) Life expectancy, educational attainment, per capita GDP D) Current account balance, infant mortality rate, educational attainment
3. A private good has which of the following characteristics?
A) Excludable and non-rival in consumption B) Rival in consumption and non-excludable C) Non-rival in consumption and non-excludable D) Rival in consumption and excludable
4. What combination of macroeconomic policies could the Australian government use to reduce inflation
A) Raise cash rates and budget for a surplus B) Raise cash rates and budget for a deficit C) Lower cash rates and budget for a deficit D) Lower cash rates and budget for a surplus Click here to download the full sample paper.