Key Economic Skills (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
Under a floating exchange rate system, what must the balance of payments always equal?
Under a floating exchange rate system, what must the balance of payments always equal?
Zero
If Australia's current account deficit increases by 10 billion USD, what happens to the capital account?
If Australia's current account deficit increases by 10 billion USD, what happens to the capital account?
Surplus increases by 10 billion USD
Which formula correctly represents the current account?
Which formula correctly represents the current account?
Net goods + services + primary + secondary
What is the equilibrium condition for the circular flow of income?
What is the equilibrium condition for the circular flow of income?
What happens to the economy when injections exceed leakages?
What happens to the economy when injections exceed leakages?
The economy expands
What is the formula for the simple multiplier?
What is the formula for the simple multiplier?
If the MPS is 0.25, what is the value of the multiplier?
If the MPS is 0.25, what is the value of the multiplier?
4
What is the relationship between MPS and economic fluctuations?
What is the relationship between MPS and economic fluctuations?
Lower MPS leads to greater fluctuations
What is the denominator in the labour force participation rate formula?
What is the denominator in the labour force participation rate formula?
Working-age population (15+)
What is the denominator in the unemployment rate formula?
What is the denominator in the unemployment rate formula?
Total labour force