1. Compare and contrast the rate of beer consumption in Australia with any other advanced country of your choice. What would be the best measure to use to make effective comparisons?
2. What explains the differences in beer consumption in Australia vs. the advanced country that you picked in Q1?
3. Explain the price elasticity of beer demand in Australia.
4. Draw and label fully a supply and demand curve diagram to explain how an excise tax affects the market of beer.
5. Explain the idea of cost versus benefit when making decisions. Use this idea to analyse why: - the government wishes to reduce the rate of beer consumption.
6. Describe and evaluate the various policies over the years (other than a tax) that the Australian governments have enacted in order to reduce alcohol consumption.
1. What is the meaning of the term real wage growth?
2. Compare the level of real wage growth in Australia vs United States. Summarise the trend in last 10 years?
3. Discuss the current minimum wage laws in Australia.
4. How will increase in the minimum wages in Australia impact you personally?