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 4(a)Question part (a)
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Report-based difficulty · EasyAverage marks: 70% of available · official reportFull marks: 26% of students · official report
a. With reference to the two graphs for Australia’s labour market and GDP growth, assess the extent to which the Australian Government has achieved its domestic economic goals of f
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Report-based difficulty · MediumAverage marks: 52.5% of available · official reportFull marks: 25% of students · official report
b. The Australian Government has run a number of budget deficits in recent years. Outline two options available to the government when deciding how to finance a budget deficit. 4 m
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Report-based difficulty · MediumAverage marks: 43.3% of available · official reportFull marks: 23% of students · official report
c. ‘The Government is delivering on its fiscal strategy and budget repair, with the 2017−18 Mid-Year Economic and Fiscal Outlook (MYEFO) confirming the budget remains on track to a
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 25% of students · official report
d. Examine the likely effect of one budgetary policy tax initiative announced in the 2018−2019 Budget on aggregate demand and on the achievement of one of the government’s domestic
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Report-based difficulty · MediumAverage marks: 66.7% of available · official reportFull marks: 34% of students · official report
e. Select one of the following aspects of budgetary policy: • research and development grants • subsidies • welfare reform policy Explain how the selected aspect is designed to inf
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Estimated difficulty · Easy
Question 1 Relative scarcity can best be defined as A. wants in relation to needs. B. wants in relation to resources. C. unlimited wants in relation to limited resources. D. limite
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Estimated difficulty · Easy
Question 2 Which one of the following might help to reduce a government’s budget deficit? A. a slowing of growth in the world economy B. reducing the marginal rate of personal inco
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Estimated difficulty · Easy
Question 3 Which one of the following is unlikely to increase productivity? A. increasing tariffs B. labour skills training C. innovation in work practices D. investment in physica
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Estimated difficulty · Easy
Question 4 What would be the effect on the market for Good X if there were a rise in the price of a substitute good? A. The demand curve would shift left and the equilibrium price
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Estimated difficulty · Easy
Question 5 What is the most likely effect of a decrease in the tariff on an imported good? A. a loss of jobs for overseas suppliers B. a fall in the price of a competing domestic g
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Estimated difficulty · Easy
3 2017 ECONOMICS EXAM TURN OVER
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Estimated difficulty · Easy
Question 6 Over time, which one of the following would most likely increase aggregate supply in the economy? A. reducing the age pension B. reducing skilled migration C. reducing t
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