Annalise Watson
Quiz by , created more than 1 year ago

a quiz made for year 9 economics, based on the revision booklet but not centred around it

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Annalise Watson
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Economic revision test

Question 1 of 17

1

Fill the blank spaces to complete the text.

The unemployment is the of Australians who are above the age of , and are able and to begin working but are not.

Explanation

Question 2 of 17

1

Select the yearly Australian unemployment target rate.

Select one of the following:

  • 2-3%

  • 1%

  • 5%

  • 14%

Explanation

Question 3 of 17

1

Choose the best reason as to why the target unemployment rate is not 0%

Select one of the following:

  • Because they don't feel like it

  • Because 0% unemployment limits economic growth

  • Because some people like not working and we should respect that

Explanation

Question 4 of 17

5

unemployment occurs during of the business cycle, when workers lose their employment positions because of these . An example of this would be when waiters or steel workers get due to a in sales.

Drag and drop to complete the text.

    Cyclical
    Frictional
    Seasonal
    General
    downturns
    upturns
    successes
    losses
    gainz
    successful times
    recession
    increase
    large increase
    fired
    promoted
    engaged

Explanation

Question 5 of 17

1

Underemployment occurs when someone gets demoted.

Select one of the following:

  • True
  • False

Explanation

Question 6 of 17

1

Choose the best reason as to why the underemployment rate might be higher than the unemployment rate at any one point in time.

Select one or more of the following:

  • People like working to be busy and it gives them a sense of purpose

  • People need to earn money to survive, so will be employed regardless of whether their job is using their skills the best

  • It sounds better to say that you have a job, rather than being unemployed until you find a job that best uses your skills

  • SOCIETAL PRESSURE

Explanation

Question 7 of 17

1

What is the best reason that could explain the yOuTH uNEmPLoYmEnT cRiSiS (there's two answers)

Select one of the following:

  • young people cbb to contribute to society in a positive way bc these damn millennials are so entitled

  • we're all just lazy

  • many entry-level jobs have been automated and replaced the need for inexperienced people to complete them

  • why work wHeN nEtfLIX eXisTs

  • wifi
    duh

Explanation

Question 8 of 17

1

which of these is not a form of unemployment

Select one or more of the following:

  • structural

  • cyclical

  • general

  • physical

  • frictional

Explanation

Question 9 of 17

3

what are the three basic economic questions

Select one or more of the following:

  • who buys the things

  • what is the thing

  • how do we make the things

  • why do we make the things

  • how much is the thing going to cost

Explanation

Question 10 of 17

4

Select from the dropdown lists to complete the text.

a list of the economic systems, in order of where the government has the most control - least control: ( planned socialist, market socialist, subsistence ), planned capitalist, ( market socialist, planned socialist, market capitalist ), ( market capitalist, planned socialist, subsistence, market socialist ), ( subsistence, planned socialist, planned capitalist )

Explanation

Question 11 of 17

1

planned capitalist has the most government intervention of all the economic systems

Select one of the following:

  • True
  • False

Explanation

Question 12 of 17

1

choose the best reasons as to why economists measure GDP

Select one or more of the following:

  • because they're bored and it sounds cool

  • because they want to monitor the growth output of an economy over a period of time

  • economists measure GDP because it is a good indicator of how a government is controlling their economy

Explanation

Question 13 of 17

1

Select from the dropdown list to complete the text.

the annual Australian GDP target is ( 2-3, 2-4, 5, 4 )%

Explanation

Question 14 of 17

2

identify two limitations to using GDP as a measure of economic progress in australia

Select one or more of the following:

  • debts don't count toward GDP

  • feeeeeeellliiiinnnggsssss don't count

  • there are better, more inclusive ways to measure economic progress instead of GDP

  • GDP sucks

Explanation

Question 15 of 17

2

is the rate at which the level of prices for goods and services increases. It is the sustained increase in price level

Drag and drop to complete the text.

    Inflation
    gross domestic product
    ur mum
    general
    highest
    lowest
    ideal

Explanation

Question 16 of 17

1

The target inflation rate in australia is 2-3% yearly

Select one of the following:

  • True
  • False

Explanation

Question 17 of 17

4

Select from the dropdown lists to complete the text.

CPI stands for ( Consumer Price Index, Current Pineapple Interest, Currency Preventing Investment ), and measures the general rate at which prices increase. DFD stands for ( Domestic Final Demand, Domestic First Demand, Demand First Die ) and measures the same as CPI, however more specific to ( governments, consumers ) and businesses. CPI is specific to ( household, apartment, family ) expenditure.

Explanation

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