Jacaranda Key Concepts in VCE Economics 2 Units 3 & 4

Page 453

“c05AggregateSupplyPolicies_PrintPDF” — 2022/6/14 — 4:32 — page 431 — #47

FIGURE 5.17 Some effects of immigration on Australia’s population. Part 1- The quarterly contribution of immigration to the growth in Australia’s population size 140,000 120,000 100,000 80,000

FS

60,000 40,000 20,000

PR O

O

0 –20,000 –40,000 –60,000 Jun-17

Jun-18

Jun-19

Total growth

Natural increase

Jun-20

Jun-21

Net ocerseas migration

E

Source: Australian bureau of statistics, national, state and territory population june 2021 Part 2-How mostly younger immigrants should help to slow Australia’s ageing population and fill labour shortages

G

16 14

PA

10 8 6

D

Thousands

12

2 0 10

20

30

40

CO RR EC

0

TE

4

2018-19 - Males

50

2018-19 - Females

60

2020-21 - Males

70

80

90

100+

2020-21 - Females

a. Estimates for 2020-21 are preliminary. see revision status on the methodology page. Source: Australian bureau of statistic, overseas migration 2020-21 financial year Part 3-Most immigrant chose to locate in the major capital cities where there are often more job opportunities 60,000

56,083

50,083

50,000

30,000

22,214

U

Persons

N

40,000

20,000

16,169

13,665

10,000 0

Melbourne

Sydney

Perth

Brisbane

Adelaide

2,368

2,113

Canberra

Hobart

132 Darwin

Net overseas migration a. Population estimates for 2019-20 are preliminary. Source: Regional population, 2019-20 Source: Australian bureau of statistics, migration, australia 2019-20 financial year TOPIC 5 Aggregate Supply Policies

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5.8 Review

4hr
pages 473-566

5.4 Encouragement of skilled immigration as an aggregate supply policy

35min
pages 428-441

5.3 The budget as an aggregate supply policy

1hr
pages 398-427

5.5 Trade liberalisation as an aggregate supply policy

25min
pages 442-452

5.6 A market-based environmental strategy as an aggregate supply policy

34min
pages 453-468

5.1 Overview

25min
pages 389-397

5.7 Strengths and weaknesses of using aggregate supply policies — review

10min
pages 469-472

4.16 Review

52min
pages 367-388

4.12 The transmission mechanisms of monetary policy and their influence on the level of aggregate demand

7min
pages 349-351

macroeconomic goals and the affect on living standards

10min
pages 363-366

4.13 The RBA’s monetary policy stance

6min
pages 352-354

domestic macroeconomic goals and living standards

17min
pages 355-362

4.11 Conventional monetary policy and how the RBA can affect interest rates

18min
pages 341-348

4.10 Definition and aims of monetary policy, and the role of the RBA

8min
pages 338-340

achievement of domestic macroeconomic goals and living standards

10min
pages 333-337

3.2 The gains from international trade

10min
pages 222-229

3.1 Overview

10min
pages 219-221

domestic macroeconomic goals and living standards

24min
pages 322-332

2.13 Review

45min
pages 198-218

impact on the level of government debt

13min
pages 316-321

4.5 The budget outcome

11min
pages 303-313

4.6 The stance of budgetary policy — is it expansionary or contractionary?

5min
pages 314-315

of domestic macroeconomic goals over the past two years

35min
pages 182-197

2.11 The goal of full employment

35min
pages 168-181

2.5 The five-sector circular flow model to understand the macro influences on domestic economic activity

16min
pages 108-114

domestic economic conditions

22min
pages 123-131

domestic economic conditions

14min
pages 115-122

2.10 The goal of strong and sustainable economic growth

29min
pages 155-167

macroeconomic conditions

24min
pages 132-141

2.9 The goal of low and stable inflation (price stability

27min
pages 142-154

2.4 The business cycle and its cases

5min
pages 103-107

2.3 BACKGROUND KNOWLEDGE Nature, effects and measurement of economic activity

3min
pages 100-102

2.2 The difference between material and non-material living standards and factors that may affect each

7min
pages 95-99

2.1 Overview

2min
pages 93-94

1.11 Review

48min
pages 75-92

1.9 Types of market failure and government intervention to address market failure in Australia’s economy

25min
pages 55-65

1.10 Government intervention in markets that unintentionally leads to decreased efficiency

24min
pages 66-74

1.8 The meaning and significance of price elasticity of demand and supply

10min
pages 50-54

of resources

38min
pages 36-49

1.6 Microeconomics — the market as an important decision maker in Australia’s economy

28min
pages 27-35

1.4 Choice, opportunity cost and efficiency in resource allocation

19min
pages 13-21

1.2 BACKGROUND KNOWLEDGE What is economics?

1min
page 7

1.3 Relative scarcity

10min
pages 8-12
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