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
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Estimated difficulty · Medium
Question 4 (9 marks) 2010 2011 2012 2013 2014 2015 2016 –1 0 1 2 3 4 5 % year ended Consumer Price Inflation quarterly (seasonally adjusted) 2017 Source: adapted from ABS; RBA Char
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Report-based difficulty · EasyAverage marks: 70% of available · official reportFull marks: 36% of students · official report
a. Referring to the graph above, assess the extent to which Australia has been able to achieve its goal of low inflation (price stability) in 2016–2017. 3 marks 19 2017 ECONOMICS E
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 47% of students · official report
b. Explain one economic factor that might have influenced the goal of low inflation (price stability) in 2016–2017. 2 marks
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Report-based difficulty · MediumAverage marks: 52.5% of available · official reportFull marks: 17% of students · official report
c. Discuss the likely effect of the behaviour of Consumer Price Inflation on the stance and focus of monetary policy during the past two years. 4 marks 2017 ECONOMICS EXAM 20
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Estimated difficulty · Medium
Question 5 (8 marks) 2010 2011 2012 2013 2014 2015 2016 2017 –9 –6 –3 0 % Current account balance per cent of nominal GDP Source: adapted from ABS; RBA Chart Pack, ‘The Australian
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Report-based difficulty · MediumAverage marks: 55% of available · official reportFull marks: 41% of students · official report
a. Referring to the graph above, outline one factor that might explain the trend in Australia’s current account balance in 2015–2016 and 2016–2017. 2 marks 21 2017 ECONOMICS EXAM T
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Report-based difficulty · MediumAverage marks: 58.3% of available · official reportFull marks: 17% of students · official report
b. Explain the likely effect of trade liberalisation on any two of Australia’s domestic macroeconomic goals. 6 marks
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Estimated difficulty · Easy
Question 1 Which one of the following components of aggregate demand is the most unstable? A. private investment expenditure B. private consumption expenditure C. government invest
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Question 2 When resources are used to produce the goods and services that best satisfy society’s needs and wants, this is known as A. dynamic efficiency. B. allocative efficiency.
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Estimated difficulty · Easy
Question 3 The construction of a tall apartment building that blocks out the light to a nearby public park is an example of what kind of market failure? A. market power B. a public
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Estimated difficulty · Easy
Question 4 Which one of the following terms describes the ‘potential output of an economy’? A. production B. productivity C. productive capacity D. Gross Domestic Product (GDP)
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Estimated difficulty · Easy
3 2016 ECONOMICS EXAM TURN OVER
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