MC Question Help (Sources of Income) (1 Viewer)

[Godard]

Hi everyone,

I'm a bit confused about Q12 of the 2017 HSC Eco exam:

Which of the following correctly ranks, from largest to smallest, the sources of income as a percentage of Australian household income?

A. Returns to labour, returns to enterprise, returns to land and capital, transfer payments

B. Returns to labour, transfer payments, returns to land and capital, returns to enterprise

C. Returns to labour, transfer payments, returns to enterprise, returns to land and capital

D. Returns to labour, returns to enterprise, transfer payments, returns to land and capital

The correct answer is supposed to be B, but in both Dixon and Riley textbooks, it's the smallest source of income. Does anyone know where we find these stats on ABS or why this is the answer? Thanks

 

[BLIT2014]

http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6523.0Main+Features22011-12

Wages and salaries were the main source of income (MSI) for 79% and 88% of households with middle and high income levels respectively in 2011-12 while government pensions and allowances dominated for low income households.

http://www.abs.gov.au/ausstats/abs@...d Expenditure Over Time (Feature Article)~100

Data may also be avaliable in the household expenditure survey.

 

[Godard]

Thanks so much for that. It's interesting to note how different the figures seem to be between the ABS and the textbook (Riley says social welfare was 9.9% in 2016, Dixon says 10% in 2014)? Is it because the textbook's data is 2015-16, but I can't seem to find that year's data on sources of income.