Section 1: Multiple Choice (2 Viewers)

tomcats

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SimbadTheSailor said:
HERE's what i got >.<

1c
2c (d is a close second)
3b
4d
5c
6a
7c
8c
9d
10b
11a
12d
13a
14b
15a
16b
17c
18d
19c
20d
i got the same!!! and ive checked with my eco teacher, she believed that these are the best answers!!

[edit] i still dont think a is the rite answer for q2, structural change is only the cause of eco growth and development, it is not an effect and therefore it cant be an indicator of eco development. whereas gdp can be a measure of eco development, as eco development takes into account of material living standard in an economy.
 
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~ ReNcH ~

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I had the same as Simbad, including Q2. I wasn't too sure with Q2, but I don't mind too much if I'm incorrect.

The one I found the weirdest was Q11...you had to eliminate your initial "perception" that increasing surpluses is a contractionary action, and actually look at the data which shows the answer to in fact be A.
 

always_smile

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minushuman said:
Answers
1. C
2. A
3. B
4. D
5. C
6. A
7. C
8. C
9. A
10. B
11. A
12. D
13. A
14. B
15. A
16. B
17. C
18. D
19. C (well, it's actually B, but not for year 12 economics)
20. D

Those are the answers, feel free to dispute them, I'll tell you why your wrong. I got 17/20 :( One of them was because I just circled the wrong thing, other 2 were because they were cunts of a question.

2. A
Structural change is required for economics development, real incomes is the closest thing to GNI per capita. GDP is not an indicator of economics development, GDP per capita and GNI are however.

9. A
Until the introduction of John Howards new industrial relations reforms award or "safety net" wages exist in all agreements no matter what. It's illegal to pay below said wage. I got this question wrong, I put D, which could also be right, but it's not the most correct answer.

10. B
Again, it's the most correct answer. C is right, to an extent, but B is the right answer.

11. A
This is pretty simple, the difference between revenue and expenditure has grown and GPD growth figures has also grown.

16. B
Again pretty self explanitory.
My economics teacher said the 9 was d. but then again she could be wrong. i put d and so dod the rest of my class.
 

acast29

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Do any of you realise that for that question about economic development, the level of GDP is taken into account for the measure of the human development index? And that the HDI is used to measure eco development?
 

tomcats

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acast29 said:
Do any of you realise that for that question about economic development, the level of GDP is taken into account for the measure of the human development index? And that the HDI is used to measure eco development?
exactly!! c is the rite answerrrrrrrrrrrrr, yay!! 20/20 for me...
 

illmatic

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omg i made the dumbest mistake for qu 10.. i put D.. WTF WAS I THINKING??

by the looks of it tho i got an 18, which is fucking awesome.
 

minushuman

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Nope question 2 is A, structural change (a drive towards better efficiency and infrastructure) and real wages are indicators of development. GDP on its on is a piss poor indicator and you should have your head checked for arguing that it's correct. GDP per capita is a different story...
 

DRAGONZ

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acast29 said:
Do any of you realise that for that question about economic development, the level of GDP is taken into account for the measure of the human development index? And that the HDI is used to measure eco development?
Wrong.

GDP per capita is one of the three measures for the Human Development Index. Not GDP in itself.

And I feel certain that the level of employment is not an indicator of economic DEVELOPMENT. It is an indicator of economic growth, obviously.

There is a fundamental difference between growth and development, in that growth is increases in real GDP over time, while development refers to the structural changes needed in an economy for economic growth to occur.

Now, if structural change is needed for economic DEVELOPMENT, then the level of structural change in an economy must be an indicator of economic development.

And then the concept of "real incomes", which are wages/salaries/etc adjusted for changes in the general price level i.e. inflation. You must understand that a worker is rewarded materialistically according to his/her contribution to the production process. In light of this, a more productive worker will earn a higher 'real income'.

So, you come to the conclusion that higher productivity is required to increase real incomes. Higher productivity IS inexorably linked with structural change, which thus means that real incomes are an indicator of economic development.

Hence, I think that answer for question two is "A".

Feel free to point out where this reasoning is flawed, because it's quite an interesting topic.
 

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My answers:

1. C
2. C
3. B
4. D
5. C
6. A
7. C
8. C
9. D
10. B
11. A
12. D
13. A
14. B
15. A
16. B
17. C
18. D
19. C
20. D

Apart from Q2, do you think there's anything wrong with my answers? I was aiming for 19-20/20, so I'm content with 19/20. Hopefully I'll make up for it in the Sections 2-4 though :rolleyes:
 

minushuman

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You got 18/20. Pretty poor effort, came in well under your target. I hope you got full marks for the short answer and essays otherwise your probably going to fail and not recieve a HSC. I spose if your lucky then you'll be one of those people who end up with a "mystery mark" UAI of 30.
 

tomcats

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minushuman said:
You got 18/20. Pretty poor effort, came in well under your target. I hope you got full marks for the short answer and essays otherwise your probably going to fail and not recieve a HSC. I spose if your lucky then you'll be one of those people who end up with a "mystery mark" UAI of 30.
shut up you fag, u are the dumbest person in the entire universe and have no idea of what economics is. u are the one who is gonna receive the "mystery mark" UAI of 30!!!!!!!!!!!!!!
 

acast29

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Yea damn you're right dragon..forgot it was gdp per capita :S. AH wells, its only one mark..should get the rest of multi choice right though...
 
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i believe 9 is a, d is correct but a is the "most correct" for the current situation and when the markers wrote the question, question 2 was pretty crap, i put d because c is not correct, and well structural change isn't always good- just look at russia and b is obviously wrong and by powers of reasoning only d seems plausible.
 

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ifsonotso_100 said:
i believe 9 is a, d is correct but a is the "most correct" for the current situation and when the markers wrote the question, question 2 was pretty crap, i put d because c is not correct, and well structural change isn't always good- just look at russia and b is obviously wrong and by powers of reasoning only d seems plausible.
yeh i put d for 2 as well, dont think its right though
 

minushuman

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tomcats said:
shut up you fag, u are the dumbest person in the entire universe and have no idea of what economics is. u are the one who is gonna receive the "mystery mark" UAI of
Wow, sarcasm is really really lost on you isn't it.
 

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minushuman said:
You got 18/20. Pretty poor effort, came in well under your target. I hope you got full marks for the short answer and essays otherwise your probably going to fail and not recieve a HSC. I spose if your lucky then you'll be one of those people who end up with a "mystery mark" UAI of 30.
lol...no need for that. I didn't really think there was anything wrong with aiming for 19/20 :confused: :p I'm happy with 18/20 - I'm guessing that the other one I got wrong was Q9...
Like you, I also hope I got full marks in the short answers and extended responses...thanks for the support.
 

kouklitsa

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minushuman said:
Answers
1. C
2. A
3. B
4. D
5. C
6. A
7. C
8. C
9. A
10. B
11. A
12. D
13. A
14. B
15. A
16. B
17. C
18. D
19. C (well, it's actually B, but not for year 12 economics)
20. D

Those are the answers, feel free to dispute them, I'll tell you why your wrong. I got 17/20 :( One of them was because I just circled the wrong thing, other 2 were because they were cunts of a question.

2. A
Structural change is required for economics development, real incomes is the closest thing to GNI per capita. GDP is not an indicator of economics development, GDP per capita and GNI are however.

9. A
Until the introduction of John Howards new industrial relations reforms award or "safety net" wages exist in all agreements no matter what. It's illegal to pay below said wage. I got this question wrong, I put D, which could also be right, but it's not the most correct answer.

10. B
Again, it's the most correct answer. C is right, to an extent, but B is the right answer.

11. A
This is pretty simple, the difference between revenue and expenditure has grown and GPD growth figures has also grown.

16. B
Again pretty self explanitory.

OMG OMG OMG ARE U RIGHT!!.. if those are the right answers.. then i think i got 19.. and im unsure what i put for the other 1 coz it was a toss up between 2.. but if ur answers are right then i got 19
 

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