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NAME: ................................................
TEACHER: ................................................

2009
TRIAL HIGHER SCHOOL CERTIFICATE
                                            Reading Time 5min
                                            Working time 3hrs

Economics

































SECTION I
Total marks (20)
Attempt Questions 1 –20
Allow about 35 minutes for this section

Answer the questions on the sheet provided
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1. Which is the most appropriate measure of the size of the global economy?

          A. The value of   World Trade in US dollar terms based on purchasing power parity index (PPP)
          B. The value of wealth in US dollar terms based on purchasing power parity index (PPP)
          C. The value of GDP   in US dollar terms based on purchasing power parity index (PPP)
          D. The value of world financial transactions in US dollar terms based on purchasing power parity index (PPP)


2. Which of the following events would put upward pressure on a floating Australia dollar?


              A. An increase in Australia’s interest rates relative to overseas
              B. An increase in Australia’s inflation rate relative to overseas
              C. A fall in Australia’s terms of trade
              D. A fall in Australia’s trade weighted index

3. Which of the following would decrease the level of protection in the world?

              A.   A fall in the production of goods
              B. An embargo on goods
              C. An increase in quotas
              D. A decrease in subsidies

4. What would the percentage of unemployment be if the number of unemployed is 750,000 and the total labour force is 15 000 000?

              A. 0.5%
              B. 5%
              C. 15%
              D. 20%


5. Which of the following best...