I'd say learn a bit of everything so you can answer most questions? This might help http://leadingedge.com.au/statistics/What would be the key economic data required for the exam? Interest rates, gdp, unemployment, exchange rate, CAD?
Aust has a narrow export base so the value of our currency can be volatile as it's kinda linked to commodity prices which are volatile especially in times of a downturn. Sorry idk if I explained it in depth enough.Also why is the $AUD so volatile?
I believe that would be related to political constraints as that essentially had John Howard removed from governmentWhy did the Rudd government abolish workplace relations act?
Haha, last years question? It probably won't come up, but for use in a potential essay:-what is the difference between headline and underlying inflation? and how would you answer it with examples?
Ahaha Thank you, that question always seems to confuse me.Haha, last years question? It probably won't come up, but for use in a potential essay:-
Headline includes a large basket of goods and the change in price across all of them. Underlying removes the goods from the basket that have a volatile or large price change that could skew the CPI rate.
For example, take the floods in QLD that reduced the supply of banana's. This would've driven prices unrealistically high and as such, they would be included in the underlying rate.
I think we learnt that in year 10 commerce.Hidden unemployment refers to those people who are unemployed, but are not actively seeking for work. Hence, they are not included in the unemployment stats
People can be born in to wealth, they can inherit wealth whereas income has to be earned. An individual can work hard to increase their income level, government can give transfer payments to make it more equitable but same can't be said about wealth.Can anyone enlighten me with some points for this question
'Explain why wealth distribution is less equal than income distribution'
Is it just that fact that wealth is a 'stock' concept accumulated over a long period of time....but what else?
Thanks for thatPeople can be born in to wealth, they can inherit wealth whereas income has to be earned. An individual can work hard to increase their income level, government can give transfer payments to make it more equitable but same can't be said about wealth.
Multilateral - APEC & EU - I can't really give a description, kinda self-explanatory. Sorry!Can anyone name and briefly describe two multilateral and bilateral agreements?