Section I: Multiple Choice (2 Viewers)

[lolcal]

Re: Multiple choice answers

it's a quota, subsidies don't change the price.

 

[BackCountrySnow]

Re: Multiple choice answers

7. A
16. D

I'm pretty sure these are the only differences for me.

7.C

and 16 i had no idea, so i put A.

 

[BackCountrySnow]

Re: Multiple choice answers

it's a quota, subsidies don't change the price.

subsidies lower the price.

 

[seano77]

Re: Multiple choice answers

what was the one with the diagram and the increase in the domestic price?? i can't remember what question number that was, my friends said it was the subsidies one because i put the quota one but does a quota have a straight line down instead

Yeah its Q9. You got it right the answer is C as only a quota will cause the price to rise.

 

[BackCountrySnow]

Re: Multiple choice answers

12D would crowding out effect though wouldn't it?

This multiple choice test was the most confusing I've ever done.

thats what i thought.

 

[seano77]

Re: Multiple choice answers

I'm pretty sure these are the only differences for me.

7.C

and 16 i had no idea, so i put A.

With Q7, unemployment can't lower past the natural rate unless there is structural change. With 16, the AIRC had a larger role in the centralised wage determination system, however enterprise bargaining is part of the centralised system. So I think 7A and 16D.

 

[jasonml]

Re: Multiple choice answers

it's a quota, subsidies don't change the price.

How could it be a quota? A quote on that graph would create a vertical line (on or to the right of equilibrium).

 

[joel p]

but in question 7 it's demand-pull inflation that occurs, not cost-push so how would it increase business costs?

 

[lolcal]

Re: Multiple choice answers

subsidies lower the price.

i meant raise it

 

[seano77]

Re: Multiple choice answers

How could it be a quota? A quote on that graph would create a vertical line.

A would lower the price. B would lower the price. D enables the domestic producers to supply more (lower price). B is the only answer that matches the graph (increase in price).

 

[lolcal]

Re: Multiple choice answers

How could it be a quota? A quote on that graph would create a vertical line.

it isn't a specific graph, it's what trade policy would have that effect. a quote imposes an artificial limit on supply, hence the price increases.

 

[midifile]

Re: Multiple choice answers

it isn't a specific graph, it's what trade policy would have that effect. a quote imposes an artificial limit on supply, hence the price increases.

Yeah. I agree. A quota decreases supply, which increases the price, which is seen in the graph

 

[jasonml]

Re: Multiple choice answers

Yeah its Q9. You got it right the answer is C as only a quota will cause the price to rise.

Your logic is wrong. First of all, even though a) is wrong, a reduction in tariffs will clearly change the price (albeit downwards).

Subsidies also change price.

Answer = d)

 

[timmy.0123]

i believe 17 is a) not b) as an increase in the top marginal tax rate would promote equality as its not saying to move the top threshold just increase the rate at which they are taxed however an increase in GST would take a higher percentage of lower income earners incomes therefore increasing inequality

 

[jono1887]

Re: Multiple choice answers

thats what i thought.

D is the crowding out effect, but thats in indirect effect on stability.
If the govt sells bonds overseas, that directly contributes to the CAD, and
hence - external instability as CAD/GPD is a measure of stability
where as the crowding out effect is not direct....

 

[fldmsh]

I got

1d
2b
3d
4b
5a
6d
7a
8c
9c
10a
11a
12d
13c
14a
15c
16d
17c
18b
19c
20b

 

[Terlob]

Re: Multiple choice answers

Your logic is wrong. First of all, even though a) is wrong, a reduction in tariffs will clearly change the price (albeit downwards).

Subsidies also change price.

Answer = d)

Ahhh.... no. Have you ever seen a Subsidies graph? Its C

 

[Nasonex]

What kind of marks would i be looking at with these answers?

1. A
2. B
3. D
4. B
5. A
6. D
7. C
8. C
9. C
10. A
11. C
12. D
13. C
14. A
15. C
16. A
17. D
18. D
19. C
20. A

 

[danz90]

Re: Multiple choice answers

My answers are:

1.D
2.B
3.D
4.A
5.A
6.D
7.C
8.C
9.C
10.A
11.A
12.D
13.C
14.A
15.C
16.D
17.A
18.B
19.C
20.B

I reckon 7 is C, because of the inverse unemployment/inflation relationship. After agreggate demand increases, this would decrease unemployment, as cyclical unemployment decreases (since NAIRU is mentioned in the question). And then increase in prices, because when unemployment decreases, according to Philips Curve, inflation increase (hence price increases).

 

[christiina.h]

Re: Multiple choice answers

it's a quota, subsidies don't change the price.

okay tops thanks !

just actually everybody at my school put that it was a subsidy, but i thought that subsidies didn't change the price and then a girl said that a quota would have a straight line down graph

woo so 19/20 depending on what Q7 was ...i put C but that was a relative guess, i agree with whoever said earlier that it should have had one where unemployment didn't increase .......effing gay question