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 B, Question 1(a)Question part (a)
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Report-based difficulty · EasyAverage marks: 85% of available · official reportFull marks: 72% of students · official report
a. Referring to the graph above, describe the trend in the growth of Australia’s housing prices over the past two years. 2 marks Instructions for Section B Answer all questions in
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2019 Economics exam · Report: 2019 Economics exam reportSection B, Question 1(b)Question part (b)
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Report-based difficulty · EasyAverage marks: 73.3% of available · official reportFull marks: 47% of students · official report
b. Describe one likely effect of the trend in the growth of housing prices described in part a. on Australian living standards. 3 marks
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Report-based difficulty · MediumAverage marks: 56.7% of available · official reportFull marks: 27% of students · official report
c. Explain whether the demand for buying a house is likely to be price elastic or price inelastic. 3 marks 2019 ECONOMICS EXAM 8
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2019 Economics exam · Report: 2019 Economics exam reportSection B, Question 1(d)Question part (d)
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Report-based difficulty · EasyAverage marks: 77.5% of available · official reportFull marks: 49% of students · official report
d. Assume the following policy changes are implemented: • The Reserve Bank of Australia (RBA) reduces the cash rate. • The Australian Government offers loan guarantees for first ho
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2019 Economics exam · Report: 2019 Economics exam reportSection B, Question 2(a)Question part (a)
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Report-based difficulty · EasyAverage marks: 70% of available · official reportFull marks: 53% of students · official report
a. Explain the meaning of the term ‘business cycle’. 2 marks
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Report-based difficulty · EasyAverage marks: 70% of available · official reportFull marks: 47% of students · official report
b. Explain how one aggregate demand factor may cause a business cycle contraction. 3 marks 2019 ECONOMICS EXAM 10
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Report-based difficulty · MediumAverage marks: 62.5% of available · official reportFull marks: 25% of students · official report
c. Explain the likely effect of a business cycle expansion on the rate of economic growth and on the rate of inflation. 4 marks 11 2019 ECONOMICS EXAM TURN OVER
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2019 Economics exam · Report: 2019 Economics exam reportSection B, Question 2(d)Question part (d)
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 10% of students · official report
d. Using two monetary policy transmission mechanisms, explain the role of monetary policy in countering a slowdown in rates of economic growth. 6 marks 2019 ECONOMICS EXAM 12
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Report-based difficulty · DifficultAverage marks: 38.3% of available · official reportFull marks: 6% of students · official report
e. Assume an economy is experiencing a fall in the rate of unemployment but a weaker than expected growth in wages. Explain how this scenario might influence the setting of aggrega
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2019 Economics exam · Report: 2019 Economics exam reportSection B, Question 3(a)Question part (a)
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 23% of students · official report
a. Explain the relationship between the budget outcome and the level of government (public) debt. 4 marks 2019 ECONOMICS EXAM 14
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Report-based difficulty · MediumAverage marks: 45% of available · official reportFull marks: 20% of students · official report
b. Select one example of a budgetary policy automatic stabiliser and describe how it operates to influence aggregate demand and the rate of economic growth. 4 marks 15 2019 ECONOMI
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2019 Economics exam · Report: 2019 Economics exam reportSection B, Question 3(c)Question part (c)
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Report-based difficulty · MediumAverage marks: 48.3% of available · official reportFull marks: 11% of students · official report
c. Discuss one likely impact of the Australian Government’s budgetary policy stance this year, as announced in the 2019–2020 Budget, on the achievement of full employment and low i
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2019 Economics exam · Report: 2019 Economics exam reportHow to use ClassConnect past exam questions
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