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Our Economy (Interest Rates (Cash rate is set by the RBA - Monetary,…
Our Economy
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Inflation
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Effects of inflation
consumers, businesses, savings and investors, wages rate, fixed income earners
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Business Cycle
Fluctations in the biz cycle:
Boom, (expansionary period) Recession ( 2 consecutive quarters of negative GDP), contractionary
BOOM (c/s , wage rates ,, u/e down, employment levels up, i/r up , GDP, up consumer and business confidence high .
Circular Flow of Income
Draw the circular / . explain the diagram ( financial, government overseas, households firms)