Fiscal Policy (HSC SSCE Economics): Flashcards
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Practise the cards
10 cards from this deck
Primary macroeconomic management tool in Australia
Primary macroeconomic management tool in Australia
Monetary policy
Frequency of major economic downturns in Australia
Frequency of major economic downturns in Australia
Roughly once per decade
Budget deficit size in 2020-21 due to COVID-19
Budget deficit size in 2020-21 due to COVID-19
134 billion USD (6.5% of GDP)
Proportion of workforce supported by JobKeeper at peak
Proportion of workforce supported by JobKeeper at peak
Approximately one-third
Coalition Govt tax receipts target (% of GDP, 2013-2019)
Coalition Govt tax receipts target (% of GDP, 2013-2019)
Below 23.9%
The 'three Ps' for economic growth (IGR)
The 'three Ps' for economic growth (IGR)
Productivity, Participation, Population
Intergenerational Report (IGR) projection timeframe
Intergenerational Report (IGR) projection timeframe
40 years
Unemployment rise prevented by JobKeeper (percentage points)
Unemployment rise prevented by JobKeeper (percentage points)
5 percentage points
Australia's projected population by 2062-63
Australia's projected population by 2062-63
40.5 million
Inflation reduction from 2023-24 electricity subsidies
Inflation reduction from 2023-24 electricity subsidies
0.75 percentage points