QCE EconomicsPractice Examination 12

This paper covers

• Microeconomic supply-side reform: competition policy and electricity sector deregulation
• Long-run aggregate supply (LRAS) shifts and productivity growth
• Price level effects of supply-side reform
• AD/AS model applied to supply-side shocks
• Australia's macroeconomic objectives: price stability, economic growth, full employment
• External stability and current account implications of productivity reform
• Labour market effects of structural reform and structural unemployment
• Fiscal policy stance and budget implications of microeconomic reform
• Monetary policy transmission channels and interaction with supply-side policy
• Trade-offs between macroeconomic objectives in the context of reform

Students are permitted to bring into the examination the materials normally allowed for this subject. Answer all questions in the spaces provided.

This is an ATARMAxxing practice paper. It is not an official examination and is not affiliated with, endorsed by, or produced by the VCAA, NESA or the QCAA.