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\nReading time: 15 minutes  \nWriting time: 2 hours  \nStructure of book  \n\n| Section | Number of questions | Number of questions tobe answered | Number of marks |\n| --- | --- | --- | --- |\n| A | 15 | 15 | 15 |\n| B | 6 | 6 | 65 |\n|  |  |  | Total 80 |\n\nx Students are permitted to bring into the examination room: pens, pencils, highlighters, erasers, sharpeners and rulers.  \nx Students are NOT permitted to bring into the examination room: blank sheets of paper and/or correction fluid/tape.  \nx No calculator is allowed in this examination.  \nMaterials supplied  \nx Question and answer book of 29 pages.  \nx Answer sheet for multiple-choice questions.  \nx Additional space is available at the end of the book if you need extra paper to complete an answer.  \nInstructions  \nx Write your name in the space provided above on this page and on the multiple choice answer sheet.  \nx All written responses must be in English.  \nAt the end of the examination  \nx Wrap the answer sheet for multiple-choice questions around this book.  \nStudents are NOT permitted to bring into the examination room mobile phones and/or anyother unauthorised electronic devices.  \n©2017 Ser6ECU34EA  \nPublished by QATs. Permission for copying in purchasing school only.  \nQATs VCE ®Economics Practice Written Examination Units 3 and 4  \nSection A: Multiple-choice questions  \nAnswer all questions in pencil on the answer sheet provided for multiple-choice questions.  \nChoose the response that is correct or that best answers the question.  \nA correct answer scores 1; an incorrect answer scores 0.  \nMarks will not be deducted for incorrect answers.  \nNo marks will be given if more than one answer is completed for any question.  \nQuestion 1  \nWhich of the following is not a characteristic of a perfectly competitive market?  \nA. Products are only differentiated by price and quality.  \nB. Low start-up costs.  \nC. It is easy for firms to move land, labour and capital between competing uses.  \nD. Consumers have perfect information about the good/service being sold.  \nQuestion 2  \nWhich of the following factors would not result in a rise in the price of rice?  \nA. A cyclone in China, where much of the world’s rice is produced.  \nB. A rise in the price of quinoa, seen as a substitute for rice in many Western countries.  \nC. A fall in the price of soy sauce, a condiment which many people like to have with their rice.  \nD. The development of new technology which allows rice to be harvested faster.  \nQuestion 3  \nWhich of the following factors will result in a movement along the demand curve to the right in the market for motorcycles?  \nA. A fall in the price of motorcycle helmets.  \nB. A fall in the cost of leather (used to make the seats of motorcycles) .  \nC. A fall in productivity in motorcycle factories.  \nD. A rise in wage costs paid to motorcycle factory workers.  \n©2017 Ser6ECU34EA  \nPublished by QATs. Permission for copying in purchasing school only. 2  \nQATs VCE ®Economics Practice Written Examination Units 3 and 4  \nQuestion 4  \nWhich of the following is not an injection in the circular flow model of income?  \nA. Consumption  \nB. Investment  \nC. Exports  \nD. Government spending  \nQuestion 5  \nWhich component/s of Aggregate Demand will be impacted by a government decision to raise the level of welfare payments e.g. the aged pension?  \nA. G1  \nB. G2  \nC. Both G1 and G2  \nD. Neither G 1 nor G2  \nQuestion 6  \nWhich of the following is least likely to occur during a recovery (upturn) in the business cycle?  \nA. A fall in the level of unemployment.  \nB. A rise in the number of job advertisements.  \nC. A rise in the rate of inflation.  \nD. A fall in the level of import spending.  \n©2017 Ser6ECU34EA  \nPublished by QATs. Permission for copying in purchasing school only. 3  \nQATs VCE ®Economics Practice Written Examination Units 3 and 4  \nQuestion 7  \nAccording to the following information t","cbCaigqS44oAiteO","https://ap.wps.com/l/cbCaigqS44oAiteO","pdf",424795,38,"English","# Section A: Multiple-choice questions\n## Question 1 - Perfect competition characteristics\n## Question 2 - Factors affecting the price of rice\n## Question 3 - Movement along the demand curve for motorcycles\n## Question 4 - Injections in the circular flow model\n## Question 5 - Welfare payments impact on aggregate demand components\n## Question 6 - Least likely event during economic recovery\n## Question 7 - Annualised inflation rate for March 2017\n## Question 8 - Participation rate meaning\n## Question 9 - Inflation trend from CPI data\n## Question 10 - Balance on capital and financial account\n## Question 11 - Example of indirect taxation\n## Question 12 - Budget outcome impact comparison","[{\"question\":\"How long are the reading and writing times for this exam?\",\"answer\":\"The reading time is 15 minutes and the writing time is 2 hours.\"},{\"question\":\"What items are students allowed to bring into the examination room?\",\"answer\":\"Students are permitted to bring pens, pencils, highlighters, erasers, sharpeners and rulers.\"},{\"question\":\"Is a calculator allowed in this examination?\",\"answer\":\"No calculator is allowed in this examination.\"}]","VCE Economics Units 3 & 4 Practice Written Examination - Reading time 15 minutes, Writing time 2 hours | PDF",1789908297,96]