ECON-A-MESS
DEMANDING ANSWERS
MARKET MAYHEM
DOLLARS & SENSE
POLICY PALOOZA
TRADE ME
CARIBBEAN CONUNDRUMS
100
A temporary contraction of the economy in which there is no economic growth for two consecutive quarters.
A. regressive period
B. depression
C. deficit
D. recession
D. recession
100
ONE STRENGTH OF MONETARY POLICY IS
A. IT ACTS QUICKLY
B. INDEPENDENT OF GOVERNMENT
C. IT CAN TARGET AREAS OF NEED
D. IT ACTS AS AN AUTOMATIC STABILISER
B. INDEPENDENT OF GOVERNMENT
100
WHICH IS A LEADING INDICATOR
A. ER
B. LFPR
C. CPI
D. GDP
D. GDP **
100
which is not an automatic stabiliser
A. pension indexation
B. welfare payments
C. progressive tax system
D. industrial reform
D. industrial reform
100
A belief that the forces of supply and demand, working with minimal government intervention, are the most effective way for markets to operate
A. Keynesian Economics
B. Supply-Side Economics
C. Laissez Faire Economics
D. Free Market Economics
D. Free Market Economics
100
WHICH DEMAND SIDE POLICY IS MOST EFFECTIVE DURING A RECESSION
A. FISCAL
B. MONETARY
C.SUPPLY SIDE
D. QE
A. FISCAL. **
100
WHICH IS NOT A FORM OF SUPPLY SIDE POLICY
A. TAX CUTS
B. CHANGES IN MARGINAL TAX RATES
C. TAX REFORM
D. INCREASING DEPRECIATION ALLOWANCES
A. TAX CUTS
200
Rate increases as the wealth or income of the tax payer increases.
A. regressive tax
B. excise tax
C. progressive tax
D. recessive tax
C. progressive tax **
200
A CONTRACTIONARY MONETARY POLICY WILL
A.DECREASE DEMAND FOR MONEY
B. SHIFT MONEY SUPPLY RIGHT
C. SHIFT MONEY SUPPLY LEFT
D. DECREASE SAVINGS
C. SHIFT MONEY SUPPLY LEFT **
200
IF THERE IS -0.2% GDP 2% CPI 8 % UE THE ECONOMY IS IN A
A. DOWN SWING
B. RECESSION
C. DEPRESSION
D. NATURAL LEVEL OF UE
B. RECESSION
200
WHAT ORGANISATION IS RESPONSIBLE FOR FISCAL POLICY
A. GOVERNMENT
B. RBA
C. ABS
D. TREASURY
D. TREASURY
200
An economic policy that assumes the key to economic growth and development is for the government to allow private markets to operate efficiently without interference like in the industrial revolution .
A. Keynesian Economics
B. Supply-Side Economics
C. Laissez Faire Economics
D. Supply-Demand Economics
C. Laissez Faire Economics**
200
AUSTRALIA CURRENTLY HAS A
A. BUDGET DEFICIT 20B
B. BUDGET SURPLUS OF 20 B
C. A BALANCED BUDGET
D. A CURRENT ACCOUNT DEFICIT OF 20 B
B. BUDGET SURPLUS OF 20 B
200
THE MAIN PROBLEM OF SSP IS
A. IT IS LAGGING POLICY
B. ITS EXPENSIVE AND INCREASES DEBT
C. ITS IMPLEMENTATION LAG IS LONG
D. ITS A BLUNT POLICY INSTRUMENT
C. ITS IMPLEMENTATION LAG IS LONG **
300
Percentage of income paid in taxes decreases as income increases
A. regressive tax
B. excise tax
C. progressive tax
D. recessive tax
A. regressive tax
300
THE CURRENT MONETARY POLICY STANCE IS NOT
A. TIGHT
B. CONTRACTIONARY
C. DEFLATIONARY
D. QUANTATIVE EASING
D. QUANTATIVE EASING
300
WHIHC IS NOT A LEADING INDICATOR
A. HOUSING LOAN APPROVALS
B. NEW CAR REGISTRATIONS
C. INTEREST RATES
D. CONFIDENCE INDEX
C. INTEREST RATES
300
Government spending that PARLIAMENT must pass legislation to authorize each year.
A. mandatory spending
B. entitlements
C. discretionary spending
D. safety net spending
C. discretionary spending **
300
An economic policy that assumes economic growth is largely a function of a country's productive capacity and focuses on increasing productivity.
A. Keynesian Economics
B. Supply-Side Economics
C. Laissez Faire Economics
D. Supply-Demand Economics
B. Supply-Side Economics
300
Which is NOT a function of the CENTRAL Banking System?
A. conduct monetary policy
B. regulate banks
C. maintain. financial stability
D. provide financial services to the people
D. provide financial services to the people **
300
JOB KEEPER WAS BASICALLY
A. TAX CUTS
B. QE
C. A SUBSIDY TO EMPLOYERS
D. FREE MONEY FOR WORKERS
C. A SUBSIDY TO EMPLOYERS
400
WHAT COMPONENT OF CW GOVT BUDGET IS THE HIGHEST %
A. COVID 19 RESPONSE
B. EDUCATION
C. HEALTH
D. SOCIAL SECURITY
D.SOCIAL SECURITY
400
A. THE INFLATION TARGET IS
A. 2-3% CPI
B. MV=QP
C. 0-1% CP
D. DEPENDS ON THE STATE OF THE ECONOMY
A. 2-3% CPI
400
WHICH IS NOT A LAGGING INDICATOR
A. GDP
B. INVENTORY
C. UE
D.CPI
A.GDP
400
A policy that sets rules and standards for companies and organizations in an effort to protect the public.
A. distributive policy
B. corporate policy
C. regulatory policy
D. safety net policy
C. regulatory policy
400
A policy in which a country does not permit other countries to sell goods and services within its borders or imposes restrictions for them to do so.
A. Protectionism
B. Supply-Side Economics
C. Laissez Faire Economics
D. Restrictivism
A. Protectionism **
400
THE CROWDING OUT EFFECT HAPPENS WHEN
A. BUDGET SURPLUS
B. DURING UPSWING
C. DURING DOWNSWING
D. QE
B.DURING UPSWING, GOV BORROWING PUSHES UP IR - AND SLOWS PRIVATE I **
400
FREE TRADE AND TARIFF REDUCTION IS AN EXAMPLE OF ?
A. FREE MARKET SSP
B. INTERVENTIONIST SSP
C. TAX REFORM
D. ANTI COMPETITION LEGISLATION
A. FREE MARKET SSP
500
Taxes applied to specific domestic goods or services as a source of revenue.
A. tariff
B. excise tax
C. progressive tax
D. regressive tax
B. excise tax **
500
MONETARY POLICY DURING A RECESSION MAY NOT WORK IF THIS IS HAPPENING IN THE ECONOMY
A. MICROECONOMIC DISEQUILIBRIUM
B. PARADOX OF THRIFT
C. ITS AIM IS STOP DEMAND PULL INFLATION
D. THERE IS HIGH LEVELS OF FRICTIONAL UE
B. PARADOX OF THRIFT**
500
WHICH IS NOT A COINCIDENT INDICATOR
A. RETAIL SALES
B. STOCK MARKET
C. EXCHANGE RATE
D. LOAN APPROVALS
D. LOAN APPROVAL
500
Measures that incorporate the market forces of the private sector into the function of government to varying degrees.
A. privatization
B. private policy
C. collaborative policy
D. market policy
A. privatization **
500
An economic policy based on the idea that economic growth is closely tied to the ability of individuals to consume goods.
A. Keynesian Economics
B. Supply-Side Economics
C. classical economics
D. natural equilibrium Economics
A. Keynesian Economics**
500
THE MAIN PROBLEM WITH FISCAL POLICY
A. TIME LAG
B. BLUNT POLICY INSTRUMENT
C. GENERATIONAL DEBT
D. RELYS OF CONFIDENCE LEVELS
C. GENERATIONAL DEBT
500
ARGUABLY THE MOST EFFECTIVE LONG TERM SSP IN SOLVING LOW PRODUCTIVITY AND POVERTY IS
A. UNION REFORM
B. TAX REFORM
C. FREE TRADE
D. EDUCATION
D. EDUCATION