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Economics

Examine the factors contributing towards Australia’s current economic performance. Discuss the factors that may pose a threat to this continued performance.

Aggregate Demand refers to the total demand for goods and services within the economy. The components of aggregate demand are Consumption investment government spending and external sector spending.
Aggregate Supply refers to the total physical volume of goods and services within the economy, including domestically produced goods and services as well as imports.
Economic Growth occurs when there is a sustained increase in a countries productive capacity over time. This is usually measured by the percentage increase in real GDP (real GDP is GDP adjusted for the effects of inflation)
Inflation is the sustained increase in the general level of prices over a period of time, usually 1 year. Inflation is measured using the Consumer Price Index (CPI)
Unemployment refers to a situation where the aggregate demand for labour is less...

Posted by: Carmen hershman

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