Good question lol, i'm not 100% sure on how the definition works. But i don't think you'd need to know either for the hsc lol.
But isn't that irrelevant to the question? It's just asking you to count the mpc.
Increased in skilled immigration > less skill shortages > greater output.
But from...
B: Decreased demand for foreign imports by australians > australians buy less imports > less supply > shift in curve to left, not right
C: Decreased demand for aus assets by foreigners > decreased demand for aud > no impact on supply > no shift in supply curve whatsoever
I think it's meant to say "Terms of Trade index" as opposed to "import index" lol.
But firstly, the inflation rate has decreased (as cpi has only risen from 5 (135-130) as compared to 10 (130-120). So you know it's A or D.
But yeah.. i think the question's wrong (someone else help lol)
If i don't know crap on the essay topic, then i need to plan to maintain my structure/cohesiveness. Otherwise, i don't bother *that* much (a couple of sentences and i just start my essay)
Just write about the composition of the BoP (eg c&f and current account) and the trends within them.
Eg If it was about net g&s balance, talk about fluctuations in ToT, commodities prices and how those have affected the net g&s balance.
And do this for all the other components
Edit: didn't see...
I'm doing the exact same thing lol. Except i've sorta got a generic essay structure for mod c, which i plan to use as a guide.
But for mod b (where they can specify a speech/throw weird questions)... hell no.