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How to explain budgetary policy stances and their effect on aggregate demand When economic growth is weak, there are high levels of cyclical unemployment. In this circumstance, an expansionary budget stance is needed to boost AD (shift spending from AD0 to AD1) and economic activity (shift production from GDP0 to GDP1). In this example, the economy shifted towards economic stability (moves to AD1, GDP1 and P1) where there is low inflation,…

Refer to Tax reform as an aggregate supply policy – Explainer to support you in framing your inquiry. Gather and evaluate data relevant to supply-side policy. This data could include primary sources (statistics, surveys) or secondary sources (texts, newspaper articles, internet sources including websites, YouTube). Outline details of the tax reform you have been allocated (what, how, why, when). Explain the impact of the tax on:…

For this activity, refer to the Income tax systems calculator.Part 1: Compare different income tax systemsBelow is a list of individuals and their taxable income per annum:Alim – $25,000Katz – $80,000Ngo – $150,000Ayesha – $300,000Type the income and tax rates in the digital interactive to investigate the total tax payable by each of these individuals and the total amount of government revenue in each of the variations of the individual…

How to explain supply-side policies with the example of tax reform. The increase in Australia’s productive capacity shifts the whole aggregate supply line out and to the right of the original line (the move from AS1 to AS2). Supply-side measures will boost the sustainable level of national production (the shift from GDP1 to GDP2) that can be achieved causing the price level to fall (the shift from P1 to P2). This offers enormous potential…

Print one copy for the class and cut into individual cards to distribute to 6 groups. Individual 1 Single with no dependents University graduate Gross income is $100,000 per year Rents Good health Lives for the moment -loves to spend and travel Individual 2 Single with no dependents Newstart recipient Type 1D Diabetic No post-school education or training…

In this activity, your group will represent one key organisation in Australia to make recommendations on improving the retirement outcomes of Australians. The Australian Government has announced that it plans to reform the Australian superannuation system to improve the living standards of Australians in retirement. The government has invited key stakeholders to submit their views on how this might be achieved. You have been given one of the…

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