Sources of Consumer Income (HSC SSCE Economics): Quizzes
📚Quizzes
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10 questions from this quiz
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Practise the questions
10 questions from this quiz
What percentage of total household income in Australia comes from wages and salaries?
What percentage of total household income in Australia comes from wages and salaries?
56%
What are transfer payments?
What are transfer payments?
Govt funds redistributed to those needing aid
Which category receives the largest share of welfare spending in Australia?
Which category receives the largest share of welfare spending in Australia?
Assistance to the aged
How do consumers earn income from land ownership?
How do consumers earn income from land ownership?
By leasing property to others
What are dividends?
What are dividends?
Payments from company profits to owners
How much did the Australian Govt allocate to social security in the 2019-20 Budget?
How much did the Australian Govt allocate to social security in the 2019-20 Budget?
AUD 180 billion
What percentage of welfare spending goes to unemployment benefits?
What percentage of welfare spending goes to unemployment benefits?
6%
What type of income do small business owners receive when their enterprises make profits?
What type of income do small business owners receive when their enterprises make profits?
Return for entrepreneurial skills
Which welfare payment category is means tested based on family income levels?
Which welfare payment category is means tested based on family income levels?
Assistance to families with children
Why do govts increase transfer payments during economic downturns?
Why do govts increase transfer payments during economic downturns?
To boost consumer demand quickly