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Yr 12 Eco - Term 1

Topic for Term 1 HSC Economics Course: Economic Issues

QuestionAnswer
Describe economic growth. And how is it measured? Define Gross Domestic Product.
Why does real GDP have to be referred? What is the formula for Economic Growth?
Distinguish between aggregate demand and aggregate supply (including the formulas in each)
Why is economic growth important?
Describe quarterly economic growth as part of time periods used to measure the rate of economic growth in Australia.
Describe year-on-year economic growth as part of time periods used to measure the rate of economic growth in Australia.
Describe annual economic growth as part of time periods used to measure the rate of economic growth in Australia.
State the difference between leakages and injections
How does the economy increase (grow) and decrease (contract)
Describe one of the main influences on consumption (income)
Describe another one of the main influences on consumption (consumer expectations)
Describe another one of the main influences on consumption (the level of interest rates)
Describe another one of the main influences on consumption (the distribution of income)
Outline business investment. Describe one of the cost of capital equipment (changes in interest rates) for one of the main influences on investment (cost of capital equipment)
Describe another one of the cost of capital equipment (change in government policies) for another one of the main influences on investment (cost of capital equipment)
Describe another one of the cost of capital equipment (change in price or productivity of labour) for another one of the main influences on government (cost of capital equipment)
Describe another one of the main influences on investment (business expectations)
Describe the influences on government spending and taxation
Describe the main influences on exports and imports
Describe the main influences on exports and imports (part 2)
Describe the changing levels of growth: the multiplier process
Describe the changing levels of growth: multiplier process (part 2)
Describe the changing levels of growth: multiplier process (part 3)
Describe the changing levels of growth: multiplier process (part 4)
Describe one of economic change of aggregate supply (population growth) - How does population growth affect the role of aggregate supply?
Describe one of the economic change of aggregate supply (population growth) - example
Describe another one of the economic change of aggregate supply (increased capital) - How does increased capital affect the role of aggregate supply?
Describe another one of the economic change of aggregate supply (increased capital) - example
Describe another one of economic change of aggregate supply (new technology) - How does new technology affect the role of aggregate supply?
Describe another one of the economic change of aggregate supply (new technology) - example
Describe another one of economic change of aggregate supply (measures to improve efficiency) - How does measures to improve effiiciency affect the role of aggregate supply
Describe another one of economic change of aggregate supply (measures to improve efficiency) - example
Describe another one of the economic change of aggregate supply (government policies) - how does government policies affect role of aggregate supply?
Describe another one of the economic change of aggregate supply (government policies) - example
Describe another one of the economic change of aggregate supply (workers acquiring new skills) - how does workers acquiring new skills affect the role of aggregate supply
Describe another one of the economic change of aggregate supply (workers acquiring new skills) - example
Describe another one of the economic change of aggregate supply (discovery of new resources) - how does discovery of new resources affect role of aggregate supply
Describe another one of the economic change of aggregate supply (discovery of new resources) - example
Describe LIVING STANDARDS as one of the effects of economic growth
Describe EMPLOYMENT as another one of the effects of economic growth
Describe INFLATION as another one of the effects of economic growth
Describe EXTERNAL STABILITY as another one of the effects of economic growth
Describe INCOME DISTRIBUTION as another one of the effects of economic growth
Describe ENVIRONMENTAL IMPACTS as another one of the effects of economic growth.
Created by: shriram1234
 

 



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