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Draw and label a graph of the PPF model representing Australia in 2018. Assume the Australian economy has a 6% unemployment rate and around 2.5% inflation rate. Note on graph with the letter A your estimation where Australia's 2018 output combination would lie.with the letter b identify an unattainable output level ,with C an efficient level of output and with d an ineffecient output level of GDP. In addition draw and label a second PPF line representing Australia in 2019 that reflects the combination and full uptake of the national broadband network ceteris Paribus.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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