VCE Economics Past Exam Questions
Browse VCE Economics exam questions from 2015–2025, including VCE papers. Filter by topic, year and paper; open the original source.
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Section A, Question 15
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Report-based difficulty · EasyAverage marks: 70% of available · official reportAnswered correctly: 70% · official report
Question 15 Which one of the following products would have a vertical supply curve? A. apples B. haircuts C. streaming services D. paintings by an artist who is now dead
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Estimated difficulty · Easy
2021 ECONOMICS EXAM 6 d o n o t w r i t e i n t h i s a r e a
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Estimated difficulty · Medium
Question 1 (16 marks) … the economy is expected to operate with considerable spare capacity for some time to come … the central scenario is for unemployment to be around 6 per cent
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Report-based difficulty · EasyAverage marks: 75% of available · official reportFull marks: 57% of students · official report
a. Explain what is meant by the goal of full employment. 2 marks Instructions for Section B Answer all questions in the spaces provided. 7 2021 ECONOMICS EXAM d o n o t w r i t e i
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Report-based difficulty · MediumAverage marks: 46% of available · official reportFull marks: 12% of students · official report
b. With reference to one aggregate demand and one aggregate supply factor, explain why the Reserve Bank of Australia’s (RBA) forecast in February 2021 that unemployment would be ar
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Report-based difficulty · MediumAverage marks: 64% of available · official reportFull marks: 34% of students · official report
c. With reference to one transmission mechanism, explain how the current monetary policy stance is designed to influence aggregate demand and the achievement of full employment. 5
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 25% of students · official report
d. Explain two weaknesses associated with using monetary policy to achieve full employment. 4 marks Weakness 1 Weakness 2 2021 ECONOMICS EXAM 10 d o n o t w r i t e i n t h i s a r
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 37% of students · official report
a. Explain the likely effect of the Australian Government’s forecast budget outcome for 2021–22 on the level of government (public) debt. 3 marks
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 9% of students · official report
b. With respect to the Australian Government’s budgetary policy, explain the difference between the role of automatic stabilisers and discretionary stabilisers in influencing aggre
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 15% of students · official report
c. Describe one strength and one weakness of the operation of the Australian Government’s budgetary policy in either 2020 or 2021 in stabilising aggregate demand and achieving the
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Report-based difficulty · MediumAverage marks: 67.5% of available · official reportFull marks: 32% of students · official report
d. Explain how one of the following aspects of the Australian Government’s budgetary policy might influence aggregate supply and the achievement of the goal of low inflation: • spe
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 28% of students · official report
e. Select one example of either a taxation reform policy or a welfare reform policy that has been implemented in Australia and describe how this policy might influence both aggrega
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2021 Economics exam · Report: 2021 Economics exam reportHow to use ClassConnect past exam questions
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