1. Unsustainable economic growth occurs when:
a) productivity increases at a rapid rate
b) demand inflationary pressures are restrained
c) demand grows faster than productive capacity
d) unemployment and inflation increase at same time
2. In the Oz budget, the largest item of outlay is:
a) defence
b) social secuity
c) education
d) foreign affairs
3. In the Oz budget, the largest item of receipts is:
a) GST
b) personal income tax
c) company tax
d) capital gains tax
4. If population grows faster than GDP at current prices, growth in real GDP per head can only have occurred if:
a) investment has risen
b) consumption spending has risen
c) the general price level as risen with population
d) the general price level has fallen
5. What component of AD flucuates the most?
a) C
b) I
c) G1
d) G2
6. Which of the following may cause the federal government outcome to move from a deficit to a surplus?
a) Increased unemployment
b) Tax reform leading to lower GST rate
c) Acceleration in rate of GDP
d) Increase in interest rates
First person who answers all correctly will win a prize. lol
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