WACE Economics Practice Exams with Worked Solutions

The 20 practice exams inside the WACE Economics Mastery Pack, each set out like the real paper with a separate worked-solution guide. Open any paper to see what it covers.

1. Practice Exam 1130 marks · 28 questions · 3 sections
   • trade composition and direction
   • comparative advantage
   • balance of payments
   • AE multiplier
   • fiscal stabilisers
   See what this paper covers →
2. Practice Exam 2130 marks · 28 questions · 3 sections
   • global linkages
   • tariff welfare
   • terms of trade
   • business-cycle indicators
   • monetary transmission
   See what this paper covers →
3. Practice Exam 3130 marks · 28 questions · 3 sections
   • trade intensity
   • PPF gains
   • exchange-rate market
   • AD–AS shocks
   • labour productivity
   See what this paper covers →
4. Practice Exam 4130 marks · 28 questions · 3 sections
   • free-trade agreements
   • quotas and subsidies
   • foreign investment
   • consumption function
   • budget outcomes
   See what this paper covers →
5. Practice Exam 5130 marks · 28 questions · 3 sections
   • opportunity-cost ratios
   • current-account drivers
   • TWI movements
   • LRAS
   • policy mix
   See what this paper covers →
6. Practice Exam 6130 marks · 28 questions · 3 sections
   • trade liberalisation
   • double-entry transactions
   • currency effects
   • AE inventories
   • government debt
   See what this paper covers →
7. Practice Exam 7130 marks · 28 questions · 3 sections
   • tariff model
   • saving–investment gap
   • international investment position
   • RBA objectives
   • APF
   See what this paper covers →
8. Practice Exam 8130 marks · 28 questions · 3 sections
   • specialisation
   • terms-of-trade trends
   • exchange-rate scenarios
   • automatic stabilisers
   • supply shocks
   See what this paper covers →
9. Practice Exam 9130 marks · 28 questions · 3 sections
   • Australian trade patterns
   • portfolio versus direct investment
   • multiplier process
   • fiscal lags
   • productivity policy
   See what this paper covers →
10. Practice Exam 10130 marks · 28 questions · 3 sections
    • protection arguments
    • balance-of-payments calculation
    • currency appreciation
    • monetary lags
    • long-run growth
    See what this paper covers →
11. Practice Exam 11130 marks · 28 questions · 3 sections
    • comparative-advantage calculation
    • tariff deadweight loss
    • recent macro indicators
    • AD–SRAS–LRAS
    • policy evaluation
    See what this paper covers →
12. Practice Exam 12130 marks · 28 questions · 3 sections
    • trade agreements
    • current and financial accounts
    • cash-rate transmission
    • budget stance
    • APF shifts
    See what this paper covers →
13. Practice Exam 13130 marks · 28 questions · 3 sections
    • PPF and opportunity cost
    • commodity prices and terms of trade
    • AE equilibrium
    • discretionary fiscal policy
    • productivity calculation
    See what this paper covers →
14. Practice Exam 14130 marks · 28 questions · 3 sections
    • trade-intensity calculation
    • foreign assets and liabilities
    • business-cycle turning points
    • unconventional monetary policy
    • policy conflicts
    See what this paper covers →
15. Practice Exam 15130 marks · 28 questions · 3 sections
    • subsidy model
    • exchange-rate demand and supply
    • CPI and GDP calculations
    • fiscal multipliers
    • capital deepening
    See what this paper covers →
16. Practice Exam 16130 marks · 28 questions · 3 sections
    • quota effects
    • balance-of-payments double entry
    • consumption function
    • contractionary policy
    • technology and LRAS
    See what this paper covers →
17. Practice Exam 17130 marks · 28 questions · 3 sections
    • gains from trade
    • foreign-investment evaluation
    • output gaps
    • expansionary policy mix
    • evidence-based judgement
    See what this paper covers →
18. Practice Exam 18130 marks · 28 questions · 3 sections
    • Australia–Asia linkages
    • terms-of-trade shock
    • aggregate-supply shock
    • government objectives
    • policy lags
    See what this paper covers →
19. Practice Exam 19130 marks · 28 questions · 3 sections
    • protection and the macroeconomy
    • TWI data interpretation
    • inventory adjustment
    • RBA stance
    • productivity reform
    See what this paper covers →
20. Practice Exam 20130 marks · 28 questions · 3 sections
    • Unit 3 synthesis
    • Unit 3 data and models
    • Unit 4 synthesis
    • Unit 4 data and models
    • choice and command words
    See what this paper covers →