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Question: Imagine that the entire Australian national economy could be depicted as a single market with supply and demand for all goods and services produced by that economy. (In other words we are assuming that whole economy behaves just like the sum of its parts, i.e. the individual markets for particular goods and services added up).
(a) Depict the Australian economy in a single supply and demand graph (properly labeling curves and axes).
(b) Now draw a second supply and demand graph for the national economy depicting how the recent fall in Australian mineral exports has affected the overall economy. (Remembering that the minerals market is a major part of the overall national market).
(c) Use your first and second diagrams to tell a story about why minerals prices are falling. Keep in mind this is not necessarily the whole or even the correct story but the one implied by your model.
Illustrate what kinds of changes in underlying conditions can cause the supply and demand curves to shift
Which aspects of the Great Depression are echoed in the ongoing economic crisis that began in 2008.what is different about the two periods.
What are the consequences of having a fiscal policy that is not sustainable?
Using a money market diagram and a diagram of aggregate demand and aggregate supply, explain how the Reserve Bank of Australia (RBA) can eliminate an inflationary gap.
How the western European economies, especially of France, has higher living standards than we do. Therefore they can afford their great benefits.
Write a program that will input two arrays of information. Each array will contain exactly 4floating point values. Your program will enter these values from standard input.
1. economic analysis that takes into consideration linkages between markets is called ? a. partial equilibrium
Illustrate which loan carries the lower effective rate. Consider fees to be the equivalent of other interest.
If $2,000 is invested now, $2,500 two years from now, and $3,000 four years from now at an interest rate of 6% compounded annually, what will be the total amount in 10 years?
What was the impact on the supply of the product and the impact on the demand for the product? Explain the impact on the price of the product and your decision on whether or not to buy the product.
Assume you fail to hedge, but the British ale seller decides to cut you a break and only pass through half of the pound appreciation.
Jane has £500 a week to spend on food and clothing. The price of food is £10 and the price of clothing is £25. Which of the following pairs of food and clothing are in Jane's choice set?
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