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In Australia between 1978 and 2013, the net number of:
A. part-time jobs and full-time jobs fell.
B. part-time jobs grew while full-time jobs fell.
C. full-time jobs grew while part-time jobs fell.
D. part-time jobs and full-time jobs grew.
Which of the following is an economic cost of rising unemployment rates?
A. An inward shift in the production possibility frontier.
B. Loss of GDP.
C. An increase in income levels, as people who lose their jobs move onto the unemployment benefits.
D. A fall in the amount of unemployment benefits paid by the government.
Which component of investment spending was the largest in Australia in 2012/13 ?
B. Machinery and equipment.
C. Buildings and structures.
D. Change in inventories.
If people who have been looking for work give up actively looking for work, ceteris paribus, the:
A. unemployment rate decreases.
B. working-age population decreases.
C. unemployment rate increases.
D. labour force participation rate increases.
A. the value of all final goods and services produced in a country during a given time period.
B. the sum of the market value of final production, rather than the quantity of production, during a given time period.
C. the sum of consumption, investment, government spending and net exports during a given time period.
D. All of these options are correct.
The real rate of interest is the:
A. nominal interest rate.
B. interest rate determined by the supply and demand in the money market.
C. nominal interest rate minus the expected inflation rate.
D. nominal interest rate plus the expected inflation rate.
An example of a final good would be:
A. the coffee beans sold to Starbucks.
B. the whipped cream sold to Starbucks.
C. a soy latte drink sold by Starbucks to a student.
D. the soy milk sold to Starbucks.
Inflation is an increase in the:
A. rate of growth of GDP.
B. overall level of economic activity.
C. average hourly wage rate.
D. general price level in the economy.
GDP is not a perfect measure of wellbeing because:
A. GDP is adjusted for changes in crime.
B. The value of leisure is included in GDP.
C. GDP is not adjusted for the effects of pollution.
D. GDP is adjusted for increases in drug addiction.
Discouraged workers are classified by the Australia Bureau of Statistics as:
A. not in the labour force.
B. part of the labour force.
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