Economic Growth (HSC SSCE Economics): Flashcards
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Practise the cards
10 cards from this deck
Aim of economic management policies
Aim of economic management policies
Sustain high rates of economic growth
What macroeconomic policies influence short-term
What macroeconomic policies influence short-term
Aggregate demand
Two channels of fiscal policy
Two channels of fiscal policy
Government expenditure and taxation
How fiscal policy stimulates growth
How fiscal policy stimulates growth
Reduce tax rates, increase govt spending
What the RBA sets to influence the economy
What the RBA sets to influence the economy
Official cash rate
Effect of lowering interest rates
Effect of lowering interest rates
Increases borrowing & spending; raises aggregate demand
What microeconomic policies increase
What microeconomic policies increase
Aggregate supply and productive capacity
Focus of labour market policies
Focus of labour market policies
Improving labour productivity via education & skills
COVID-19 fiscal response programmes
COVID-19 fiscal response programmes
JobKeeper wage subsidy and increased JobSeeker payments
Productivity Commission finding (2022)
Productivity Commission finding (2022)
None of its recommendations from 5 years prior implemented