$20 Bonus + 25% OFF
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
Add File

Error goes here

ECON1010 Principles Of Economics

tag 0 Download9 Pages / 2,055 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT


  1. Consider a closed economy in which GDP equals $20 billion, consumption equals $13 billion, government purchases equal $3 billon and tax revenue equals $1 billion. Use this information to answer the following questions: 
  2. What is private savings equal to in this economy
  1. What is public savings equal to in this economy 
  1. How would the level of public savings impact the supply of loanable funds
  1. What is national saving equal to in this economy
  1. What are net exports equal to in this economy 
  1. What is investment equal to in this economy
  1. Explain how labour productivity is determined. In your answer address why human capital is considered to be so vital to lifting labour productivity levels. To illustrate your understanding provide an example. Your answer should be between ½ page and a full page. 
  1. When Hans Rosling talks about China ‘catching up’ with the United States, explain in more detail what he means by this? Your answer should be around ¼ of a page.  can free trade help middle income countries or emerging economies ‘catch up’ with the high income or developed economies? Your answer should be ½ a page and include a relevant example. 
  1. On the y-axis of the visualisation Hans Rosling presents in the Gapminder video, income per person is shown. What is an alternative label or term that we have used in the course that means the same as income per person
  1. The income per person referred to in part c. above is ‘inflation adjusted’. Why is it necessary to adjust this for inflation? Your answer a should be no longer that ¼ of a page
  2. Read the recent report released by the Foundation for Young Australians The New Work Order: Ensuring young Australians have skills and experience for the jobs of the future, not the past. Available online: file://ntapprdfs01n02.rmit.internal/eh2/E10092/https---www.fya.org.au-wp-content-uploads-2015-08-fya-future-of-work-report-final-lr.pdfor via https://www.fya.org.au/our-research/#report-downloads )

Having read the Report answer the following questions:

  1. The report identifies one the forces shaping the future as automation. Discuss how automation may impact unemployment in years to come. In your discussion be sure to identify the type(s) of unemployment it may lead to and comment on what policy makers can do to address this. Your answer should be around ½ a page. 
  1. Globalisation is a dominant economic force that creates new opportunities but also presents some challenges. Provide an example from Australia of an industry or sector of the economy that has suffered job losses as a result of globalisation. In your answer explain why globalisation can create unemployment in some industries or sectors of a national economy.  Your answer should be around ½ a page. 
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Unique Document

Under Evaluation

Get Money
into Your Wallet

Total 9 pages, 1 USD Per Page

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). ECON1010 Principles Of Economics. Retrieved from https://myassignmenthelp.com/free-samples/econ1010-principles-of-economics/dominant-economic.html.

"ECON1010 Principles Of Economics." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/econ1010-principles-of-economics/dominant-economic.html.

My Assignment Help (2021) ECON1010 Principles Of Economics [Online]. Available from: https://myassignmenthelp.com/free-samples/econ1010-principles-of-economics/dominant-economic.html
[Accessed 23 September 2021].

My Assignment Help. 'ECON1010 Principles Of Economics' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/econ1010-principles-of-economics/dominant-economic.html> accessed 23 September 2021.

My Assignment Help. ECON1010 Principles Of Economics [Internet]. My Assignment Help. 2021 [cited 23 September 2021]. Available from: https://myassignmenthelp.com/free-samples/econ1010-principles-of-economics/dominant-economic.html.

MyAssignmenthelp.com is one of the noted service providers that deliver essay help. We provide tailored essay assistance to make sure that student gets online essay help exactly in the way they want it to be written. We at MyAssigemnthelp.com have built teams of consultants, who readily attend every query related to help me writing my essay. We provide essay writing help in forms of tips and steps in order o assist students with tough essay assignments.

Latest Economics Samples

BUECO5903 Business Economics

Download : 0 | Pages : 3

Answer: The increase in income may lead to an increase in the consumption of pizzas which leads to an increase in the demand curve, the equilibrium price increases as well as the equilibrium quantity. in pizza prices leads to an increase in the quantity demanded for pizza that shifts the demand curve outwards. This leads to an increase in the equilibrium price as well as the equilibrium quantity.  Hamburgers are substitutes to Pizzas, in...

Read More arrow Tags: Australia Merrylands Management International Law of the Sea University of New South Wales 

MAE101 Economic Principles

Download : 0 | Pages : 10

Answers: a) The article ‘Is the Australian dollar overvalued’ by Myriam Robin was published in Sydney Morning Herald on February 10, 2017. The main issue of the article was an analysis of the value of the Australian dollar in recent times. The article starts with the fact that, although the Australian dollar is one of the best performing currencies of the world, economists say that trading at the sustainable level does not happen....

Read More arrow

ECO511 Economics For Business

Download : 0 | Pages : 5

Answers: Question 1 As per the relevant details outlined in the question, it is imperative to use Australian Bureau of Statistics (ABS) as the primary data source in order to calculate two significant macroeconomic indicators namely inflation and also the growth in the average weekly wages for period commencing from 2005 and ending in 2015. The various macroeconomic data is presented in the form of catalogues at the ABS website and a particul...

Read More arrow

TECO401 Principles Of Economics

Download : 0 | Pages : 8

Answers: 1. Reduction in alcohol consumption Beer drinking is a part of Australian culture over the years. However, Australian consumers are shifting from beer to other types of alcohol especially wine. Percentage of overall alcohol consumers among the Australian is higher compared to other nations. Due to the having negative health impact on health, Australian government may take policy to reduce alcohol. Effects of two policies such as impo...

Read More arrow Tags: Australia Melbourne Management Production Management University of Melbourne MBA 

ECO511 Economics For Business

Download : 0 | Pages : 7

Answer: Topics: Demand and Supply, Economic Efficiency, and Market Failure and Government Intervention Introduction The article “Australia's 'significant' housing shortage” by David Scutt on 23rd March 2016 presents the condition of Australian real estate market. In the recent years, the demand for houses in Australia has outweighed supply thus creating a shortage in the market. Australia is said to be having a shortage ...

Read More arrow Tags: Australia New South Wales Management UNCC100 Our World: Community and Vulnerability University of New South Wales Masters in Business Admin 

5% Cashback

On APP - grab it while it lasts!

Download app now

*Offer eligible for first 3 orders ordered through app!

callback request mobile
Have any Query?