Across
- 1. the final market value of all goods and services produced in the economy over a given period of time
- 9. _ is gross income less the direct taxes
- 11. acronym of non-accelerating inflation rate of unemployment
- 16. this rate refers to the price of the currency on international markets
- 17. occurs when the demand for a good or service is equal to the supply of a good or service at a particular price
- 18. _income is disposable income plus indirect government benefits provided in the form of goods and services
- 19. the carbon tax is designed to tackle this
- 21. output per unit of input or output over inputs
- 22. this type of development refers to the development of a nation at a pace that does not erode the ability of future generations to enjoy the same quality of life
- 23. total value of assets minus the total value of liabilities
- 24. a number between zero and one providing an indication of the degree of inequality in the distribution of income
- 25. a period of very high rates of growth in production, highest in the business cycle
- 26. this curve plots the percentage share of total income earned on the vertical axis against each quintile(decile) on the x-axis
- 28. total volume of goods and services available for sale in an economy in a given time frame
- 30. _unemployment occurs where a person is unemployed due to mental, physical or other characteristics (criminal background, physical disabilities)
- 31. _income is income from investments and other sources
- 34. total expenditure on Australian made goods and services
- 36. the responsiveness of demand or supply to a change in a variable such as price
- 37. _poverty occurs when a household has a low level of income compared to a generally agreed standard (or below the Henderson line).
Down
- 2. _rate refers to the percentage of the population 15 years and over who wish to participate in the labour force
- 3. _unemployment refers to ‘discouraged workers’ people who are not working but are not counted as unemployed
- 4. _line is referred to as the 45 degree line, also the line of absolute inequality
- 5. _poverty refers to people living in a situation where they have insufficient income to purchase the basic goods and services
- 6. _unemployment refers to a rise in unemployment due to insufficient levels of AD
- 7. is an example of a market based approach to addressing climate changed
- 8. _test to determine whether a person is eligible for superannuation, social welfare benefits
- 10. a sustained increase in the general or average price level over time
- 12. when one currency is able to purchase more of another currency, a higher Australian dollar in comparison to other currency
- 13. the cost of borrowing money or alternatively the return offered to hose lending money
- 14. a better measure economic growth, measure value of final good and services produced in Australia, discounted for the effects of inflation
- 15. _unemployment occurs when a person is unemployed for that period of time while they are moving from one job to another
- 16. _income is income, money derived from paid work through employment
- 20. occurs when people are employed, but would like and are available to work more hours
- 23. exports minus imports
- 27. _tax system is one where higher income earners pay a higher percentage rate of tax compared to lower income earners
- 29. taxes, savings and imports and examples of these
- 32. government body in control of monetary policy
- 33. _unemployment occurs where the skills of the unemployed do not match the skills required by the industry, or technological changes
- 35. government spending, investment and exports and examples of these
- 36. _household income is adjusted disposable income to take into account the size and composition of households