QCEVault

Economic management — Question 57

Original QCE Vault practice · 5 marks

Q57 · Practice questionComplex familiar5 marks

QUESTION 57 (5 marks)

A proposed hospital budget contains a $900 million new building, $60 million annual cleaning contracts and $30 million annual income grants to patients. Classify each outlay and explain one reason why the building’s demand and supply effects occur on different timelines.

Question linkSyllabus coverage

Related questions

  1. Q1 · 2025 QCAA · Paper 1 · 1 mark
    QUESTION 1 Identify a transfer payment in the federal budget. (A) military personnel wages (B) aged pension payments (C) new highway costs (D) indirect taxation
    Economic management
  2. Q2 · 2025 QCAA · Paper 1 · 1 mark
    QUESTION 2 What happens when the Reserve Bank of Australia decides to decrease the cash rate? (A) Bank deposit rates rise. (B) Banks pass on the rate change as soon as possible. (C) Financial institutions raise variable and fixed loan rates. (D) Interest rates change depending on each financial institution.
    Economic management
  3. Q3 · 2025 QCAA · Paper 1 · 1 mark
    QUESTION 3 Which reason is a justification for applying a demand-side economic policy in Australia? (A) to decrease cyclical unemployment (B) to maximise real economic growth (C) to enhance dynamic efficiency (D) to reduce business regulations
    Economic management
  4. Q4 · 2025 QCAA · Paper 1 · 1 mark
    QUESTION 4 If an economy is in an expansionary phase, automatic stabilisers should (A) increase employment. (B) raise income tax rates. (C) increase income tax revenues. (D) raise unemployment payments.
    Economic management