Section I - Multiple Choice (3 Viewers)

[saints123]

what were the options for question 2 i didnt get to take the paper

 

[asadass]

so.. it was expansionary and appreciating rite?

it was contractionary and a depreciation lol

and i'm pretty fucking sure the subsidy was $4, i just checked my textbook

 

[cookeemonstah]

8 more units supplied @ the same cost. $80 payment? / original 12 units

$8??

use some logic please, who charges an $8 subsidy on a $10 item??

 

[saints123]

the subsidy was 2 dollars my teacher worked it out after the exam

 

[cookeemonstah]

yeh my bad. depreciating, cant remember my answer, may have misread quesition...

 

[manu1984]

A. reduce number of rewards
B. replace enterprise agreement
C. reduce min wage
D. remove safety net

 

[asadass]

A. reduce number of rewards
B. replace enterprise agreement
C. reduce min wage
D. remove safety net

.

 

[User12]

You are a deadshit, the value of the subsidy is given by the vertical distance between the supply curves.

LOL thought so, was abit confused with what the other bloke said

 

[paddydbarry]

use some logic please, who charges an $8 subsidy on a $10 item??

i've over complicated it, must have got it wrong.

 

[jt9531]

what did everyone get for Q17..
was it the foreign currency in terms of aus or the aus in terms of foreign?
it took me a while....

 

[paddydbarry]

A. reduce number of rewards
B. replace enterprise agreement
C. reduce min wage
D. remove safety net

It was A, the other options are ridiculous.

 

[cookeemonstah]

A. reduce number of awards
B. replace enterprise agreement
C. reduce min wage
D. remove safety net

shit i put B,

As part of the recent changes to fair work Australia, awards were streamlined from an estimated 4300 to 150. These consolidated awards are now referred to as modern awards

 

[paddydbarry]

Another "tricky" one that tricked lots in my class the the Equilibrium of Income question.

They balanced but as exports where higher or (lower??) i'm pretty sure the answer was B

 

[reflectia]

/facepalm

guize, over complicating it. it's just the vertical distance between the change in supply curve.
ie. subsidy is $2

 

[littleremedy]

hey if anyones teachers have worked out the answers- do you guy minds posting it onto here?

 

[inJust]

what did everyone get for Q17..
was it the foreign currency in terms of aus or the aus in terms of foreign?
it took me a while....

C

 

[choiyokbao]

so was Q18 simply just $2...? no fancy crap/working out required??? if so DAMNNN

 

[allly123]

What did people get for question 7?

 

[osak23]

budget surplus B
\was question 2 A?

WAS Q3 B...?

AND FARKEN READ EXCHANGE RATE WRONG SO YEH GOT C BUT ITS RONG

 

[cookeemonstah]

dude its a question to test our ability with economic models. its calculation, its $8. 8/1 = $8
the size of the subsidy is $1 no way it can be $2 i dont see the line extending up to $12.

every subject has logic in it. subsidies are normally 10-15% so.. i doubt the markers didn't know about that.