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.
Matching results: 404 indexed questions and parts.
Section A, Question 6
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Estimated difficulty · Easy
Question 6 An increase in productivity is likely to A. worsen Australia’s international competitiveness and increase inflation. B. worsen Australia’s international competitiveness
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Estimated difficulty · Easy
Question 7 Refer to the following aggregate demand (AD) and aggregate supply (AS) diagram. AS2 AS1 AD price level Real GDP Which one of the following is likely to cause a shift in
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Estimated difficulty · Easy
Question 8 Consider the following data for an economy over a two-year period. The prices given reflect the average for the relevant year. Year 1 Year 2 Index of export prices 100 9
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Estimated difficulty · Easy
Question 9 Which one of the following would reduce the size of the Australian Government’s budget deficit? A. company tax cuts B. personal income tax cuts C. increasing the rate of
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Estimated difficulty · Easy
Question 10 The degree of price elasticity of demand is important to producers because it reveals how A. responsive quantity demanded is to a change in price. B. much of the produc
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Estimated difficulty · Easy
Question 11 Which one of the following is not a feature of a perfectly competitive market? A. Firms have ease of entry into and exit from the market. B. Products sold in the market
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Estimated difficulty · Easy
Question 12 When the economy is experiencing low rates of inflation and low rates of economic and employment growth, the Reserve Bank of Australia will be likely to A. sell governm
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Estimated difficulty · Easy
Question 13 Imagine the Australian Government’s budget is in surplus. If the rate of economic growth were to slow, this may ultimately result in a A. smaller surplus budget, as rec
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Estimated difficulty · Easy
Question 14 Which of the following would be the most likely impact of an increase in inflation in the United States (US)? A. an increase in US interest rates and a depreciation of
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Estimated difficulty · Easy
Question 15 The following table indicates the quarterly Consumer Price Index (CPI) outcomes for a hypothetical economy. CPI June 2017 110 Sept. 2017 115 Dec. 2017 118 Mar. 2018 120
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Report-based difficulty · MediumAverage marks: 63.3% of available · official reportFull marks: 23% of students · official report
a. Distinguish between allocative efficiency and dynamic efficiency. 3 marks Instructions for Section B Answer all questions in the spaces provided. 7 2018 ECONOMICS EXAM TURN OVER
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Report-based difficulty · EasyAverage marks: 77.5% of available · official reportFull marks: 57% of students · official report
b. Explain how a decrease in the price of a complement can affect the demand for a good. Construct fully labelled demand and supply curves to illustrate your explanation. 4 marks 2
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