Economic

Question 1 List the 4 main economic goals of the Australian government and briefly explain each angiotensin converting enzyme of them. What is inflation? Distinguish between demand-pull and cost-push inflation. Include diagrams in your explanation. infract at least 4 reasons why it is important that the government successfully implements policies to prevent excessive directs of inflation. Answer 1 Inflation: a persistent and appreciable rise in the general train of prices. Cost inflation occurs when increasing cost of production are passed on to consumers in the form of high prices. Cost increases push up the general price level as businesses pass on the increases to their customers. Cost inflation fanny occur independently of the level of aggregate expenditure.

4 reasons: ? tint on business decision-making ?impact on economys competitiveness ?impact on the nations take ?redistribution of income and wealth Question 2 Go to any website long-familiar to you (also refer to the suggested sites below) and collect relevant data present in a table and line graphs for the following economic variables for Australia, regular army and China, over the last 5 years (2004-2009) The annual cast of real gross domestic product growth Year-on-year inflation rate The unemployment rate Australia: GDP: { resect: project} Inflation: { take away: haul up} Unemployment: {draw:frame} ground forces: GDP: {draw:frame} {draw:frame} Unemployment: {draw:frame} China: GDP: {draw:frame} Inflation: {draw:frame} Unemployment: {draw:frame} {draw:frame} {draw:frame} {draw:frame} Figure 3 (unemployment) illustrates the population of unemployment during 2004 to 2009. Compared with Australia, China and USA goes up slowly from 2007 to 2008. Reference Parry, G. and Kemp, S. 2004, Pathways in Economic, sixth edition, Tactic Publications,... If you want to get a full essay, social club it on our website: Orderessay

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