Effectiveness and Limitations of Economic Policy (HSC SSCE Economics): Flashcards
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Macroeconomic policies' main aim
Macroeconomic policies' main aim
Max sustainable growth, minimise business cycle fluctuations
Australia's long-term potential growth rate (2023)
Australia's long-term potential growth rate (2023)
2.5%
Australia's HDI global ranking
Australia's HDI global ranking
5th position
Australia's unbroken growth record period
Australia's unbroken growth record period
1991 to 2019
Inflation avg: 1970s vs since early 1990s
Inflation avg: 1970s vs since early 1990s
10% in 1970s, 2.5% since early 1990s
Australia's unemployment rate in 2023
Australia's unemployment rate in 2023
3.5%, lowest in 50 years
Current account deficit avg 2010-2020 (% of GDP)
Current account deficit avg 2010-2020 (% of GDP)
2.3%
Australia's net zero emissions target year
Australia's net zero emissions target year
2050
Australia's median adult wealth ranking (2022)
Australia's median adult wealth ranking (2022)
1st globally, 273,900 USD per adult
Average annual growth rate 1991-2019
Average annual growth rate 1991-2019
2.9%