Section I - Multiple Choice (1 Viewer)

[determine]

and it's not just people, it's companies are earning more profits too, and thus they must pay more tax on that too!

 

[PhysicsGirl]

Yes, that is also correct. Really, people, don't argue over such a simple question. In an expansion, the government hands out less as there is no large need for government payments/benefits. In a contraction, it's the complete opposite. That was probably one of the easiest questions of the multiple choice.

 

[determine]

Yes, that is also correct. Really, people, don't argue over such a simple question. In an expansion, the government hands out less as there is no large need for government payments/benefits. In a contraction, it's the complete opposite. That was probably one of the easiest questions of the multiple choice.

as I said above LOL

 

[mitchh81]

Okay, here are the answers (I did the paper):

1. C
2. A
3. C
4. D
5. A
6. B
7. C
8. A
9. D
10. C
11. B
12. D
13. C
14. B
15. B
16. B
17. C
18. D
19. B
20. C

good luck everyone!

got 16/20 wooo

 

[silence--]

determine mate, how sure are you that q17 is C?

as much as i am hoping you are right, the method used in the tim dixon workbook points to D being the correct answer (extra $500 from the world price going to govt for tariff revenue) :L

 

[myafanatic]

But doesn't the tariff mean that because the government is imposing the tariff, the foreign producers will be forced to put their price up to maintain revenue? Because the effect of the tariff means the price of the shirt goes up to $15, they're still selling it at 15 and receiving that revenue - they're not still selling it at the world price because the point of a tariff is that the government imposes a tax to make the foreign products go up in price so that domestic producers are more competitive...leading to inflation etc?

 

[kev-is-red]

Okay, here are the answers (I did the paper):

1. C
2. A
3. C
4. D
5. A
6. B
7. C
8. A
9. D
10. C
11. B
12. D
13. C
14. B
15. B
16. B
17. C
18. D
19. B
20. C

good luck everyone!

Same answers that I put out earlier, the one's my teacher gave us. Oh well, didn't think she would be wrong with 17.

17/20 ain't bad.

 

[Urgh]

Same answers that I put out earlier, the one's my teacher gave us. Oh well, didn't think she would be wrong with 17.

17/20 ain't bad.

im thinking they might show leniency with q17... but i still reckon it's d

 

[myafanatic]

Could someone explain why Q17 would be D? I'm at a loss here

 

[Urgh]

Could someone explain why Q17 would be D? I'm at a loss here

Before the tariff, when selling at $10, domestic supply is 100 and foreign is 400-100=300... The revenue is 300x10=3000
After the tariff the foreign supply becomes 100 selling at 15, but 5 of that goes to the government as the tariff, therefore they're selling 100 at 10 which is 1000 revenue.
The difference in revenue is $2000.

 

[Tennisaddict]

In the end 16 is too dire!

Just wish i had read question 6 correctly, it was probably the easiest one!

 

[Urgh]

I assumed 16 was C, i thought in domestic market operations, the sale of government securities increases the money supply therefore decreasing the cash rate. Wouldn't you want an increase in the cash rate to combat inflationary pressures?

 

[myafanatic]

I assumed 16 was C, i thought in domestic market operations, the sale of government securities increases the money supply therefore decreasing the cash rate. Wouldn't you want an increase in the cash rate to combat inflationary pressures?

Your reasoning is correct but the sale of govt securities decreases the money supply, because the RBA is selling the securities and collecting the money (taking it out of the money supply), increasing the cash rate.

You're right about Q17 BTW, I can't believe I got that wrong, urghhh! It's in the Dixon workbook as an "extension" question, super.

 

[Mjontrix]

I assumed 16 was C, i thought in domestic market operations, the sale of government securities increases the money supply therefore decreasing the cash rate. Wouldn't you want an increase in the cash rate to combat inflationary pressures?

The sale of government securities creates limited money supply thus raising up the interest rate. This then leads to less consumer spending. I think you got it the wrong way around.

 

[Urgh]

oh god, topic 4 was my worst. Well that's gonna have wreaked havoc with my monetary policy essay, confidence is dropping a bit now

 

[Titangod77]

Guys trust me on this
Q 17 is D

Bec:

300*10-100*10=2000

Since 300 was quantity supplied by imports at price 10,

100 was the quantity supplied at 15, yet 5 was tarif which gov. Receives not the import senders... So they still only get 10

 

[Titangod77]

Lol just ignore the earlier post...

But y is 10 C?
Wouldn't it be B

 

[the future]

Share your MC answers here

why do i always ruin my marks with time management. I dont know how i did for multiple choice, because economics i think is one of the hardest to judge. BUT i know for certain, 55 minutes was not enough to write to essays, if i started with the essays i could've had a chance at band 5, now i'll be lucky with band 4. the shet thing is, i knew how to answer everything. question, stuffed me up as well. i think it was either b or c.

 

[webster]

1. C
2. A
3. C
4. D
5. D
6. B
7. C
8. A
9. D
10. B
11. B
12. D
13. D
14. A
15. B
16. B
17. D
18. D
19. A
20. C
a rough response, any thoughts?

 

[abc123yoyo]

Where is the paper for economics??