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Category > Economics Posted 17 May 2017 My Price 9.00

economic downturn

1.      In 1990 Australia experienced its greatest economic downturn since the Great Depression. With the help of the AD-AS model, explain why the recession occurred.

2.      Why would Reserve Bank economists be interested in knowing the ‘natural rate of unemployment’?

3.      In general terms, what are the best ways of dealing with the following types of unemployment: frictional, structural and cyclical unemployment.

4.      The table below shows nominal GDP and the Price Index:

QQ图片20170511132003.png

Calculate real GDP for each year.

a.      In which year did the economy grow the most?

b.     Did the economy experience a recession in any year over the years 2013-2016?

c.      When, if ever, did the growth in real GDP ever exceed the growth in nominal GDP?

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SuperTutor
(15)
Status NEW Posted 17 May 2017 04:05 AM My Price 9.00

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