Answer: Introduction Australian economy has long been experienced a steady growth. This is the only exceptional economy that escaped from global recession in 2008. The economy in recent years however experienced a relatively slow economic growth sourced from unfavorable weather condition and slowing investment in mining and housing sector. The strong economic position is still maintained by the business investment, government spending a...Read More >>
Answer: Introduction In the world economy, Australia stands as one of the strongest economy in terms of growth and economic performance. This is a service sector dominating economy with the sector making highest contribution to the GDP. Agriculture and industries also make significant contribution to the economy. Australia is an open economy maintaining trade relation with many of the developed and developing nation (Hatfield-Dodds, et ...Read More >>
Answer: Introduction The credit crisis which is faced by Greece is also the sovereign debt crisis in the aftermath of the financial crisis of 2007-2008. The Greece crisis have started in the late 2009. There are both external as well as internal factors which is known to the formation of crisis in Greece. The Greek crisis had been triggered as the result of Great Recession which is known to lead the budget deficit of various western nations f...Read More >>
Answer: Introduction Australian economy is one of the highly developed nation of world. The economy has the structure of a mixed market economy. The economy has recorded an uninterrupted growth rate for the last few decades making it 14 largest economies in world. The economy is largely dominated by the service sector. Service sector alone contributes 61.1 percent of total GDP. More than 70 percent of the labor force is engaged in servi...Read More >>
Answer: Introduction A country’s trade balance is determined by the total exports and imports. When a country exports more than it imports, it earns higher than it spends hence a positive balance of trade and vice versa (Connolly, 2013). This has however not been the case with Australia where the country has experienced negative net exports since 1990. Its major exports: petroleum products, coal Briquettes, Wheat, gold, natural gas, per...Read More >>
Answer: Introduction Over the last few decades, the economy of Australia has emerged as one of the strongest economies in the global framework and is currently one of the largest mixed economies in the world. Much of this can economic prosperity of the country can be attributed to the consistent economic growth of the country, stable employment scenes and striking growth in the industrial and commercial sectors (Plumb, Kent and Bishop, ...Read More >>
Answer: Introduction: Australia is one of the wealthy nations, possesses healthy economic condition and consequently becomes the 14th largest economy in this world. The exporting sector and service sector have played vital role for contributing significant portion to the country’s national income or gross domestic product (GDP). Moreover, the country has successfully reduced its poverty level (Luke 2018). With strong agricultural s...Read More >>
Answer: Real GDP Growth Rate and Rate of Inflation, Australia The Real GDP of a country, being the inflation adjusted measure of the total productivity of the country, is one of the primary indicators of economic well-being of the population in general and the health of the economy of the country. It measures the total value of the final goods and services which are produced within the geographical boundaries of the concerned country (M...Read More >>
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