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 (15 marks) ‘Some may ... think that the Reserve Bank Board is prioritising its inflation objective [goal] ahead of its full employment objective [goal]. Although it is t
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a. Describe what economists mean by the Non-Accelerating Inflation Rate of Unemployment (NAIRU). 2 marks
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b. Explain how one aggregate supply factor might have affected the achievement of the goal of low and stable inflation in the past two years. 2 marks o ° =) S H FE he ES @ El ? E
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c. With reference to one transmission mechanism, explain how the current monetary policy stance is designed to influence aggregate demand and the achievement of the goal of low and
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Report-based difficulty · MediumAverage marks: 56.7% of available · official reportFull marks: 10% of students · official report
d. With reference to the quote on page 14, evaluate the extent to which the Australian economy has achieved the domestic macroeconomic goals of low and stable inflation and full em
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2024 VCE Economics examination (PDF, 3.03 MB) · Report: 2024 VCE Economics external assessment report (DOCX, 754.97 KB)Section B, Question 5
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Estimated difficulty · Medium
Question 5 (10 marks) Key figures Quarter Jun2023 | Sep2023 Balance on current account’ ($m) 7782 158 ‘Source: Adapted fom <ww.abs govau> "Seasonally adjusted estimates in current
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Report-based difficulty · DifficultAverage marks: 35% of available · official reportFull marks: 29% of students · official report
a. With reference to the table above, explain how one structural influence on Australia’s current account balance might have contributed to the change in the balance on current acc
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2024 VCE Economics examination (PDF, 3.03 MB) · Report: 2024 VCE Economics external assessment report (DOCX, 754.97 KB)Section B, Question 5(b)Question part (b)
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Report-based difficulty · DifficultAverage marks: 35% of available · official reportFull marks: 20% of students · official report
b. Outline how foreign investors buying a large cotton farm in Australia would affect two components of Australia’s balance of payments. 2 marks Section B
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Report-based difficulty · EasyAverage marks: 70% of available · official reportFull marks: 61% of students · official report
c. Explain how one of the following factors might affect the value of the Australian dollar. + a downgrading of the Australian government's credit rating + higher interest rates in
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2024 VCE Economics examination (PDF, 3.03 MB) · Report: 2024 VCE Economics external assessment report (DOCX, 754.97 KB)Section B, Question 5(d)Question part (d)
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Report-based difficulty · MediumAverage marks: 57.5% of available · official reportFull marks: 26% of students · official report
d. Discuss the effectiveness of trade liberalisation in achieving the domestic macroeconomic goal of strong and sustainable economic growth. 4 marks o ° =) S H FE he ES @ El ? E
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2024 VCE Economics examination (PDF, 3.03 MB) · Report: 2024 VCE Economics external assessment report (DOCX, 754.97 KB)Section B, Question 6
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Estimated difficulty · Medium
Question 6 (18 marks) Question 6 continues on the next page.
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Report-based difficulty · MediumAverage marks: 60% of available · official reportFull marks: 40% of students · official report
a. Identify the stance of the 2024-25 federal budget and describe one reason why the government might have adopted this stance given current economic conditions. 3 marks Id I & 2 £
Search excerpt only. Open the original question for exact equations and diagrams.Source: 2024 VCE Economics examination (PDF, 3.03 MB) · Report: 2024 VCE Economics external assessment report (DOCX, 754.97 KB)How to use ClassConnect past exam questions
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