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Economic Issues - Coggle Diagram
Economic Issues
Economic growth
aggregate demand and its components
injections and withdrawals
the simple multiplier
measurement of growth through changes in real Gross Domestic Product
sources and effects of economic growth in Australia
increases in aggregate supply – improvements in efficiency and technology
trends in business cycle
Unemployment
measurement
labour force
participation rate
unemployment rate
trends
types and causes
cyclical
structural
frictional
seasonal
underemployment
hidden
long term
NAIRU
main groups affected by unemployment
effects of unemployment – economic and social costs
Distribution of income and wealth
measurement – Lorenz curve and Gini coefficient
sources of income as a percentage of household income
taxation, transfer payments and other assistance
sources of wealth
dimensions and trends, according to gender, age, occupation, ethnic background and family structure
economic and social costs and benefits of inequality
Inflation
measurement – headline and underlying
trends
causes
demand inflation
cost inflation
imported inflation
inflationary expectations
positive and negative effects
Environmental sustainability
ecologically sustainable development
private and social costs and benefits – externalities, market failure
public and private goods – free riders
environmental issues:
preservation of natural environments
pollution, climate change
depletion of renewable and non-renewable resources
External stability
measurement
CAD as % of GDP
NFD as % of GDP
NFL as % of GDP
Terms of Trade
exchange rate
international competitiveness
trends
positive and negative causes and effects