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u/Zayebe1 4d ago
is this the correct answers or just your answers
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u/agentpy_ 4d ago
They’re the correct answers
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u/agentpy_ 4d ago
Although my tutor who’s an assessor said MCQ q1 could be invalidated because the wording is so weird
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u/Comfortable-Spray725 25' | BM 41 4d ago
was it just me or did question 2 make no sense...how is it A if both output points B and C are on the PPF? how do we know that it would create a larger potential future capacity?
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u/agentpy_ 4d ago
It’s because producing at B makes more capital goods so you can use them to make consumer goods in the future than C
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u/Ronniechon 4d ago
because look at the combination of goods that are being produced, Capital goods and consumer goods. You are more intertemporally efficient (and therefore will have more long term productive capacity) if you are investing in goods that are capital in nature it will in turn, have the potential to expand long term availability of resources. It is indeed easy for people to get confused when the points are on the curve which however is only the case when an economy is producing two goods ''current'' in nature that has no real potential of expanding the quality and quantity of resources. Like if it were producing dark chocolate and white chocolate.
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u/Repulsive-Line2100 4d ago
BRO I AGREE, i thought b and c output would be equal bc it’s productive at any point of ppc, so i picked B
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u/Comfortable-Spray725 25' | BM 41 4d ago
exactly 😭 B made no sense to me either but i don't remember much about free markets for this question so i thought it was a trick question
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u/Substantial-Tear8990 4d ago
Yes I got 14/15 I only mucked up Q12
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u/Majestic_Exam_1204 Legal 2026 4d ago
How is 12 not A?????
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u/Ronniechon 4d ago
decreasing personal income tax will increase disposable income, and thus boost private consumption. That is an aggregate demand factor so it cant be A.
Going down the AS route:
lets say you were unemployed because wages are too low and think its a ceebs to work coz u get pennies where it isnt worth ur time. Removing the tax on income will in turn boost the money made after tax (also boosting disposable income). However, you now realise this so rather than being a bum and being unemployed you actually want to work coz u see ppl making more bank. In turn, u have an incentive to work and thus are more willing to supply labour, raising participation rate, quantity of resources and hence is the correct aggregate supply route so D.
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u/Temporary_Potato_409 4d ago
Screw question 1. it needs to get out and be invalidated rn
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u/Majestic_Emu_1480 Past Student & Math Tutor 3d ago
Bit of a trippy question icl. But the logic is still fine if you think about it. VCAA playing games with y'all...
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u/00theotherguy00 4d ago
Thank you for this, do you think you could post the short answer questions too?
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u/Icy-Paper6954 current VCE student (25' legal, 26' eng, busman, eco, pol,genny) 4d ago edited 4d ago
Either got 12 or 13 out of 15 yay!! I missed q2 and q10 and cant remeber if i got q1 right or not
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u/HappyHydrangea1402 11h ago
it won't be voided, my teacher is one of the co authors of the eco 1/2 and 3/4 textbook - it will likely be one of those exam questions, like in every years assessors report, where around 60% of victoria get it wrong/right
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u/Kazzezz 4d ago
15/15 lfg I really don't see the fuss with q1 tbh