“GDP”

      Please respond to the following: In view of the weak economy of the last several years, explain which of the four (4) components of GDP had, or is having, the greatest positive impact in our economy. Use the following historical tables to support...

GDP, Unemployment and Inflation

Task 1 [100 marks] Go to the latest labour market figures on the Australian Bureau of Statistics website (6202.0 – Labour Force, Australia http://www.abs.gov.au/ausstats/[email protected]/mf/6202.0 ), and use that data to answer the following questions. You only need to...

GDP, economic growth, unemployment and inflation

  1. What is the gross domestic product of a country? What is meant by ‘intermediate goods’ and are they included in the measure of GDP? Give an example of a good that could be an intermediate good or a final good depending on the situation. Explain...