Skip to main content

← back to the guide

QCE Economics practice questions: Units 3 and 4 quiz

12questions. Pick an answer and you'll see why right away.

  1. A change in a good's own price causes which of the following?

  2. If a 20 percent rise in price causes quantity demanded to fall by 8 percent, the price elasticity of demand is:

  3. Which combination correctly describes the four forms of market failure in QCE Economics?

  4. A country has a comparative advantage in a good when it can produce it at:

  5. On a tariff diagram, the deadweight loss consists of:

  6. A rise in Australian interest rates relative to overseas would most likely:

  7. The balance of payments identity CA + KAFA = 0 implies that a country running a current account deficit must:

  8. The Marshall-Lerner condition states that a depreciation improves the balance on goods and services only if:

  9. Which of these is NOT one of the four channels of the monetary policy transmission mechanism?

  10. During the 2022 to 2024 disinflation, the RBA cash rate moved from 0.10 percent (May 2022) to a peak of:

  11. Automatic stabilisers differ from discretionary fiscal policy because they:

  12. A public good is best defined as a good that is: