Implications of a Reduction in Protection Levels (HSC SSCE Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
When did car manufacturing end in Australia?
When did car manufacturing end in Australia?
2017
What percentage of Australia's exports were minerals and metals by 2022-23?
What percentage of Australia's exports were minerals and metals by 2022-23?
64%
What percentage of total government revenue came from tariffs in 2023-24?
What percentage of total government revenue came from tariffs in 2023-24?
0.3%
By what percentage was Australia's price level lower in 2016 due to trade liberalisation since 1986?
By what percentage was Australia's price level lower in 2016 due to trade liberalisation since 1986?
3.4%
What was the initial clothing tariff rate before the 2010 reduction?
What was the initial clothing tariff rate before the 2010 reduction?
17.5%
What type of unemployment occurs when workers' skills don't match available vacancies?
What type of unemployment occurs when workers' skills don't match available vacancies?
Structural unemployment
Australia's total exports grew from 61 billion USD to what amount?
Australia's total exports grew from 61 billion USD to what amount?
694 billion USD
What cost did tariffs impose in 2020-21 according to the Productivity Commission?
What cost did tariffs impose in 2020-21 according to the Productivity Commission?
1.7 billion USD
What percentage of Australia's imports come from vulnerable supply chains?
What percentage of Australia's imports come from vulnerable supply chains?
Around 5%
Why are protection cuts politically difficult despite economic benefits?
Why are protection cuts politically difficult despite economic benefits?
Costs are visible, benefits invisible