Answers: 1. Relationship between household consumption and disposable income The main determinant of household consumption is income. Given all other factors, there exists a positive relation between household consumption and income. The figure below explains trend in consumption expenditure and disposable income for Australian household. Figure 1: Consumption and Disposable income (Source: abs.gov.au, 2018, Cat no. 5204.0, Ta...Read More >>
Answer: Introduction The case study is prepared based on the dynamics of inflation, interest rate and monetary policy committee on United Kingdom. Monetary Policy Committee of Bank of England is responsible for designing monetary policy in the economy. The committee is ready to adjust the interest rate in line with fluctuation in the price level. In the phase of rising inflation, the committee raises interest rate while during a declini...Read More >>
Answers: Introduction In the last few decades, the global economic scenario has experienced huge development and dynamics in its domain which can be attributed to the growth and modifications of the economies of the different countries as well as to the international phenomena of immense significance like that of Globalization, trade liberalizations, industrial and technological innovations and others, which in turn has led to the increase in...Read More >>
In-text: ((Baumol & Blinder, 2015))
Your Bibliography: Baumol, W. J., & Blinder, A. S. (2015). Microeconomics: Principles and policy. Nelson Education.
In-text: ((Healy, 2016))
Your Bibliography: Healy, J. (2016). The Australian labour market in 2015. Journal of Industrial Relations, 58(3), 308-323.
In-text: ((Mankiw, 2014))
Your Bibliography: Mankiw, N. G. (2014). Principles of macroeconomics. Cengage Learning.
In-text: ((Teixeira & Queiros, 2016))
Your Bibliography: Teixeira, A. A., & Queiros, A. S. (2016). Economic growth, human capital and structural change: A dynamic panel data analysis. Research policy, 45(8), 1636-1648.
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