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Economic management — Question 10

QCAA 2023, Paper 1 · 1 mark

Q10 · 2023 · External assessmentUnclassified1 mark

QUESTION 10

The data shows an economic scenario over a three-year period.

Year 1

Year 2

Year 3

Nominal GDP ($ billion)

700

730

745

Budget surplus ($ billion)

100

115

140

Which economic policies would improve this situation?

(A) raising the age pension and increasing income taxes

(B) selling government assets and reducing retirement age

(C) increasing retirement age and decreasing health expenditure

(D) increasing job seeker payments and decreasing income taxes

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