multiple choice 2

Question 1

what has the strongest impact on occupational status and career advancement?

Answer 1

bachelors degree

explanation: represents higher level of education, 3-4 years to complete

Question 2

what is the financial measure of an economy

Answer 2

GPD
income per person
inflation rates

Question 3

which level of government is responsible for hospitals in australia?

Answer 3

state government

explanation: federal funds healthcare but doesn’t manage and provide healthcare like state

Question 4

who is responsible for setting the fiscal policy in australia

Answer 4

Australian government

Question 5

In interventionist economics who should intervene in the economy to ensure the best use of economic resources?

Answer 5

government

explanation: In interventionist economics, the government is expected to intervene in the economy in order to ensure the best use of economic resources, as the free market alone may not always lead to the most efficient or desirable allocation.

Question 6

what is the cost of high unemployment rates

Answer 6

increased crime rate

explanation: people do illegal stuff to get by (rack, sell drugs)

Question 7

businesses that intentionally take social problems are

Answer 7

social enterprises

Question 8

when the government spends more money than received it is called

Answer 8

a budget deficit

explanation: spending more money than what they get from collecting through taxes and fees

Question 9

where does inheritance including money, property or other assets come from

Answer 9

a relative by legal succession or will

Question 10

how many hours do full time workers work per week in Australia

Answer 10

40 hours

explanation: 5 days a week for 8 hours each day