Evaluating the Effectiveness of Specific Policies (HSC SSCE Economics): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Ceteris paribus meaning
Ceteris paribus meaning
With everything else being the same
RBA inflation target range
RBA inflation target range
2 to 3 per cent
Factor affecting how quickly policies take effect
Factor affecting how quickly policies take effect
Time lags
Trade-off: reducing inflation often increases this
Trade-off: reducing inflation often increases this
Unemployment
Australia's carbon emissions target year
Australia's carbon emissions target year
Net zero by 2050
Australia's consecutive growth years before COVID-19
Australia's consecutive growth years before COVID-19
29 years
Examples of unconventional monetary policy
Examples of unconventional monetary policy
Asset purchases, low-cost credit, yield targets
Most effective policy for stimulating economy in downturns
Most effective policy for stimulating economy in downturns
Fiscal policy
Monetary policy: contractionary vs expansionary
Monetary policy: contractionary vs expansionary
More effective for contractionary
Why monetary & fiscal policy coordination matters
Why monetary & fiscal policy coordination matters
Work best when aligned, not opposing each other