Section I - Multiple Choice (4 Viewers)

[asadass]

dude it wasn't $8, it was $4

 

[inJust]

dude its a question to test our ability with economic models. its calculation, its $8. 8/1 = $8
the size of the subsidy is $1 no way it can be $2 i dont see the line extending up to $12.

Lol, my economics teacher who is the head-HSC marker said it's 2$ so...

 

[carpe_diem]

Another "tricky" one that tricked lots in my class the the Equilibrium of Income question.

They balanced but as exports where higher or (lower??) i'm pretty sure the answer was B

Exports were higher than imports, so that ruled out the trade deficit option. Therefore, answer was B (surplus)

 

[CommunityFan]

THE FRIGGIN LINE FOR Q18 wasn't even in the $12 equilibrium thingy!!! it was realistically $1 difference so I leave that blank!!!

 

[deswa1]

Q18 is defs $2. They show you the vertical distance between the two on the graph -> its just not that clear at the equilibrium point -> look a bit left of that

 

[cookeemonstah]

so I leave that blank!!!

dood, u never leave a mc question blank...

 

[Bored_of_HSC]

Yeah it's $2

 

[mickstarify]

So Anyone want to make a guess as to all the answers. heres what I think it is

1B, 2A (i put b..derp) 3B, 4A (is it B, idk guessed), 5A, 6C, 7B, 8D, 9D
10C, 11C, 12D, 13D, 14B, 15A, 16A, 17C, 18A, 19C, 20D

Please correct this where you think I'm wrong (give reasoning). Cheers

 

[Rawf]

So Anyone want to make a guess as to all the answers. heres what I think it is

1B, 2A (i put b..derp) 3B, 4A (is it B, idk guessed), 5A, 6C, 7B, 8D, 9D
10C, 11C, 12D, 13D, 14B, 15A, 16A, 17C, 18A, 19C, 20D

Please correct this where you think I'm wrong (give reasoning). Cheers

I'm pretty sure they're all right. I've got the same answer.
And yes, 4 is A

 

[Rawf]

Yeah it's $2

Yep the subsidy is $2, I don't know why people think its $4....
I even asked my teacher after the test

 

[cookeemonstah]

So Anyone want to make a guess as to all the answers. heres what I think it is

1B, 2A (i put b..derp) 3B, 4A (is it B, idk guessed), 5A, 6C, 7B, 8D, 9D
10C, 11C, 12D, 13D, 14B, 15A, 16A, 17C, 18A, 19C, 20D

wtf how did u remember all that stuff.

 

[mickstarify]

wtf how did u remember all that stuff.

I took the exam paper?
didn't anyone else?

 

[Rawf]

I took the exam paper?
didn't anyone else?

Yeah I took my exam paper too, we're allowed to haha. I also circled my answers on my question booklet as I went so I could check if I coloured in the right bubbles later.
(and that actually helped cause near the end I realised I coloured the wrong bubbled by accident)

 

[jnigga07]

I chose D for question 9, but my teacher said the answer was B because a lowering of the cash rate meant more disposable income and since Y=C+S it meant that there was a rise in both consumption and savings. I chose B because the interest rate is lower meaning there is less incentive to save. Thoughts?

 

[mickstarify]

wtfffffffffffffffffffffffffffff scan upload pleaseeee

Alright, theres various markings on it but ok

 

[CommunityFan]

dood, u never leave a mc question blank...

from what I see and discussions with everyone at my school and teacher I think I made 3 mistakes in the multiple questions

It's alright its not like its 4 or more

 

[cookeemonstah]

gj hoping for 17+ too

 

[powersupply]

I chose D for question 9, but my teacher said the answer was B because a lowering of the cash rate meant more disposable income and since Y=C+S it meant that there was a rise in both consumption and savings. I chose B because the interest rate is lower meaning there is less incentive to save. Thoughts?

Na mate. D. The question said all things being equal. Your teacher looked too deep into it.

 

[puffyjellyfish]

I chose D for question 9, but my teacher said the answer was B because a lowering of the cash rate meant more disposable income and since Y=C+S it meant that there was a rise in both consumption and savings. I chose B because the interest rate is lower meaning there is less incentive to save. Thoughts?

Your teacher is wrong. The answer is D because a decrease in interest rates means it encourages further borrowing in the economy for both investors and consumers and thus increase in AD (as AD = C+I+G+(X-M)). It also reduces savings ratio because there is less return from term deposits. Hence answer is D. A rise in consumer spending and household savings rate. Your teacher shouldn't see teaching you if he/she didn't know that...

 

[jackftwlol]

Answers are as follows (99% sure)
1. B
2. A
3. B
4. A
5. A
6. C
7. B
8. D
9. D
10. C
11. C
12. D
13. D
14. B
15. A
16. A
17. C
18. A
19. C
20. D