Question 1

In Australia in 2005/06, the federal government had zero net debt for the first time in over:

Accepted Answer

A) 5 years. 
B) 15 years. 
C) 20 years. 
D) 30 years. 
A) 5 years. 
B) 15 years. 
C) 20 years. 
D) 30 years.

Question 2

The 'Phillips curve' illustrates that there is a:

Accepted Answer

A) short-run negative relationship between the unemployment rate and the inflation rate. 
B) short-run positive relationship between the unemployment rate and the inflation rate. 
C) long-run negative relationship between the unemployment rate and the inflation rate. 
D) long-run positive relationship between the unemployment rate and the inflation rate. 
A) short-run negative relationship between the unemployment rate and the inflation rate. 
B) short-run positive relationship between the unemployment rate and the inflation rate. 
C) long-run negative relationship between the unemployment rate and the inflation rate. 
D) long-run positive relationship between the unemployment rate and the inflation rate.

Question 3

Discretionary fiscal policy is when:

Accepted Answer

A) existing taxation policy automatically smoothes out business cycle fluctuations in the economy. 
B) the government changes the levels of expenditure or taxation to achieve a macroeconomic aim. 
C) policy is left to the discretion of the Reserve Bank of Australia. 
D) politicians are discrete about policy changes and do not advise consumers or producers of new policies. 
A) existing taxation policy automatically smoothes out business cycle fluctuations in the economy. 
B) the government changes the levels of expenditure or taxation to achieve a macroeconomic aim. 
C) policy is left to the discretion of the Reserve Bank of Australia. 
D) politicians are discrete about policy changes and do not advise consumers or producers of new policies.

In Australia in 2005/06, the federal government had zero net debt for the first time in over:

The 'Phillips curve' illustrates that there is a:

Discretionary fiscal policy is when:

Economics: Foundations and Models

Choices and Trade Offs in the Market

Where Prices Come From: the Interaction of Demand and Supply

Gdp: Measuring Total Production, Income and Economic Growth

Economic Growth, the Financial System and Business Cycles

Long-Run Economic Growth: Sources and Policies

Unemployment

Inflation

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money, Banks and the Reserve Bank of Australia

Monetary Policy

Macroeconomics in an Open Economy

The International Financial System

Filters

Exam 13: Fiscal Policy

In Australia in 2005/06, the federal government had zero net debt for the first time in over:

The 'Phillips curve' illustrates that there is a:

Discretionary fiscal policy is when:

Economics: Foundations and Models

Choices and Trade Offs in the Market

Where Prices Come From: the Interaction of Demand and Supply

Gdp: Measuring Total Production, Income and Economic Growth

Economic Growth, the Financial System and Business Cycles

Long-Run Economic Growth: Sources and Policies

Unemployment

Inflation

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money, Banks and the Reserve Bank of Australia

Monetary Policy

Macroeconomics in an Open Economy

The International Financial System

Filters