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Answers to Quiz 7: How well do you know Australia’s hidden economic history?

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1. (d) In May 2016, to finance massive tax evasion.

2. (c) Wayne Swan when Julia Gillard was PM in 2011.

3. (d) Lyons was also prime minister. Too easy? Actually, there probably were elements of truth in (a), (b) and (c).

4. (b) In the 2000s, when the Howard Government squandered the mining boom revenue.

5. (b) Costello when Howard was PM in mid 2007.

6. (e) All of the above.

7. (f) None of the above — as far as we can tell. One Fairfax article admitted that full-time positions had declined, but emphasised that ‘the unemployment rate held steady at 5.7 per cent’.

8. (b) is false. Australia was not the only OECD member to avoid recession. Poland also did. Australia was the only OECD country to avoid a recession and widespread unemployment. Poland’s jobless rate rose above 12 per cent. The other statements are all true. Links available on request.

9. (g) None of the above. All have declined, although some other sectors such as food and beverages have increased.

10. (c) Peter Costello. That name keeps popping up.

11. (e) Malcolm Turnbull

12. (e) none. Morrison is wrong.

 
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