Hi sir, all are macroeconomic topics. there are few questions, need to draw the graph.

Question 1

Table1:Internationalcomparisonsofeconomic growthandeconomic wellbeing

Countryname	2014	2015	2016	2017	2018	2019
Australia	2.53	2.19	2.77	2.3	2.95	2.16
Brazil	0.5	-3.55	-3.28	1.32	1.32	1.14
Canada	2.87	0.66	1	3.17	2.01	1.66
China	7.43	7.04	6.85	6.95	6.75	5.95
Germany	2.21	1.49	2.23	2.6	1.27	0.56
HongKong SAR,China	2.76	2.39	2.17	3.79	2.85	-1.25
India	7.41	8	8.26	7.04	6.12	4.18
Japan	0.37	1.22	0.52	2.17	0.32	0.65
Norway	1.97	1.97	1.072	2.32	1.29	1.15
Nepal	5.99	3.32	0.59	8.22	6.7	6.99
Pakistan	4.67	4.73	5.53	5.55	5.84	0.99
Singapore	3.94	2.99	3.24	4.34	3.44	0.73
UnitedStates	2.53	2.91	1.64	2.37	2.93	2.16
Vietnam	5.98	6.68	6.21	6.81	7.08	7.02
World	2.86	2.87	2.61	3.3	2.98	2.34

YearlydatafromtheWorld Bank.

Weblink

Go to the Australian Bureau of Statistics (ABS) website at http://abs.gov.au/. Select 'Statistics' and then'KeyEconomic Indicators'(undertheheading'Economy')toseeAustralia'sGDPlevelsoverrecent months and over the past year. The ABS site also provides details about general progress indicators (GPI) and other measurements of sustainability and economic welfare.

1. CommentonthegrowthfiguresforthedifferentcountriesshowninTable1.

1. Whatarethekeymeasures ofeconomicperformanceandhowaretheycalculated?

1. Whatmeasures(other thanGDP)wouldyouusetocompare economicwell-beingamong these countries? Explain your answer

Question2

Imagine Tom a young adult who has been registered as unemployed since he left high school a little over a year ago. He does notthink there are any job prospects and has given up looking for work. He spends most of his time at home watching television.However,makes half-heartedattemptstolook for work. For example, one afternoon each week he attends a local job club and is active on social media.

Now imagine James in his fifties who had worked in the local factory in a small regional town for mostofhisworking life.Helosthisjobwhenthefactorycloseddownduetoarecessionandhasbeen unabletofindany work since.Hedoesnotgoouttocollecthisunemploymentbenefits becauseheno longer expects to find work. He tries to find useful things around the house to fill in his time.

Weblink

Go to the ABS website at http://www.abs.gov.au. Select 'Statistics', then 'Employment and unemployment' (under the heading 'Labour') and then 'Labour Force, Australia' for the latest unemployment rates.Next answer the questions that follow.

1. Consider the example of the young siblings. How would you classify this form of unemployment? Explain your answer. Explain how the young siblings are an example of how the unemployment rate can be overstated.

2. Consider the example of the man in his fifties. How would you classify this form of unemployment? Explain your answer. Explain how the older man is an example of how the unemployment rate can be understated. (3 marks)

3. Isonetypeofunemploymentamoreserious problemthantheother?

Question3

Economicdataisimportant toknowtherealstatus of aneconomy.Itprovidesanempiricalpicture of an economy's condition. The following are economic data for Australia in 2019, 2020 and in 2021.

	Mar 2019	Mar 2020	Mar 2021
Unemploymentrate	5.1	5.3	5.1
Inflationrate	1.3	2.2	1.1
Economicgrowth rate	1.9	1.4	1.1

Source: Reserve Bank of Australia 2021, 'Statistics'. http://www.rba.gov.au/statistics (tables G1 H01 and H05).

Weblink

For discussion on Keynesian economics, go to http://economics.about.comand enter 'Keynesian economics' into the search field.

Go to the Australian Bureau of Statistics (ABS) website at http://www.abs.gov.au. Select 'Statistics', then 'Employment and unemployment' (under the heading 'Labour') and then 'Labour Force, Australia' for the latest unemployment and underemployment rates. Visit h..s@.nsf/Lookup/6202.0main+features10September%202018for more details on underemployment in Australia. Next answer the questions that follow.

1. Comment on the changes in unemployment, inflation and growth between 2019, 2020 and 2021 in terms of whether they are 'good' for the economy or not.

1. Giventhis data,whatadvice wouldyougive thegovernmentregarding itsfiscal-policy stance toaddress the economicproblems shownin thetable? Explain your answer with the help of an AD/ASgraph. Please provide explanation and draw thegraph (Hint: Shouldthe govt impose an expansionary or contractionary fiscal policy)

Question4

Part A:

The Reserve Bank of Australia is responsible for monetary policy, the payments system and financial system stability, and for providing banking services to the banks, other financial institutions and the federal government. The RBA is also responsible for the production and issuance of Australian banknotes.Onceevery threeyears,theRBAconducts theConsumerPayments Survey(CPS).The2019 CPS shows the increasing role of electronic payment methods rather than cash for day-to-day payments.

Visit https://www.rba.gov.au/payments-and-infrastructure/consumer-payments-survey/to learn more details of the 2019 CPS. Then answer the question that follows.

Weblink

GototheReserveBankofAustraliawebsite,http://www.rba.gov.au.Select'Banknotes',tolearnmore detailson 'productionand issuanceofAustralian banknotes.' Visithttps://www.rba.gov.au/publications/bulletin/2020/mar/consumer-payment-behaviour-in-australia.htmlto know consumer payment behaviour.

Visithttps://www.rba.gov.au/statistics/frequency/retail-payments/2021/retail-payments-0421.htmlto learn more details of retail payments.

Question:

Whatarethemajorfindings ofthe2019CPS?

Part B:

Visithttps://www.rba.gov.au/media-releases/2021/mr-21-09.htmltoreadthemediareleaseabouta recent decisionmadebytheReserve BankofAustralia(RBA)thatmayaffect theAustralianeconomy. Then answer the questions that follow.

Weblink

GototheRBAwebpagehttps://www.rba.gov.au/monetary-policy/toreadmoreaboutthemonetary policy transmission mechanism.

Question: Using your knowledge of economic theories, explain what this press release means when it states that low-interest rates are acting to support borrowing and spending. Use graphs to illustrate and explain the effect ofexpansionary monetary policy on aggregate demand. Please provide explanation and draw the graph.

Question5

Imagine thatSaul is 18 years old and comes to you for advice. He says thathe can join a Rock band and make $480a day or become a fashion designer and make $320a day. He could alsopotentially doboth (spendsomeofthetimeonrockandsomeofthe time onfashion).Heisonlywillingtoworkupto eight hours in a day. He wants to know what the opportunity cost of spending an hour of his workday on fashionisandwhattheopportunitycostof spendinganhourof hiswork day onRockis.Whatshouldhe do? Please provide explanation, draw graphs and calculation

Question: Whatifhetellsyouthattheverybestfashiondesigner intheworldmakes$300aday?Doesthischange your answer above?