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Practice Questions

1. Explain what is meant by deregulation. Using two specific examples discuss the benefits of deregulating major industries. 
2. Describe 3 historical examples of the Australian government implementing microeconomic policies
3. Describe 3 different policies the Queensland Government could implement to reduce income equality. 

Practice Questions

Economic Management
1. Explain the difference between discretionary and non-discretionary fiscal policy, providing and example of each. 
2. Identify and describe two examples of microeconomic policy:
A) One that is likely to only increase SRAS
B) One that is likely to also increase LRAS

Practice Questions

All students
1. Outline two costs and two benefits (potentially) if the Australian Government were to increase its intake of permanent skilled migrants.
2. Imagine there were significant increases to government funding for clean energy innovation, namely the production and distribution of wind and solar power. Draw two different economic models to show the potential impacts of such a policy. Describe 2 potential harms this investment may have from an economic lens. 

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