The Effects of Economic Growth and Recent Trends (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
What defines a recession in technical economic terms?
What defines a recession in technical economic terms?
Two consecutive quarters of negative growth
How many consecutive years of economic growth did Australia achieve from 1991-92 to 2019-20?
How many consecutive years of economic growth did Australia achieve from 1991-92 to 2019-20?
28 years
What is Australia's estimated long-term sustainable rate of economic growth?
What is Australia's estimated long-term sustainable rate of economic growth?
Around 2.5% of GDP
Who typically benefits most disproportionately from economic growth?
Who typically benefits most disproportionately from economic growth?
Higher-income earners & skilled workers
What are 'the three Ps' that determine Australia's long-term economic growth?
What are 'the three Ps' that determine Australia's long-term economic growth?
Productivity, participation & population
When did Australia's terms of trade reach a 140-year high?
When did Australia's terms of trade reach a 140-year high?
2011
What economic concept describes how the balance of payments limits how fast an economy can expand?
What economic concept describes how the balance of payments limits how fast an economy can expand?
A 'speed limit' or constraint
According to a 2023 McKinsey report, how much could net zero transition boost Australia's GDP annually?
According to a 2023 McKinsey report, how much could net zero transition boost Australia's GDP annually?
75 billion USD annually through to 2035
What record low did the RBA reduce the cash rate to during the COVID-19 pandemic?
What record low did the RBA reduce the cash rate to during the COVID-19 pandemic?
0.10%
What was labour productivity growth in the 2010s compared to the 1990s?
What was labour productivity growth in the 2010s compared to the 1990s?
1.1% in 2010s vs over 2% in 1990s