Economics HSC Marathon (2 Viewers)

[wanderlust]

the balance of payments summarises all transactions between australia and the world over a given period of time.

the current account shows the money flowing from all australia's export and imports of goods and services, the transactions are non reversable.

the capital account consists of australia's capital transfers such as those from migrants, foreign aid and the purchase and sale of intellectual property rights. the finanicial account shows australia's transactions in foreign finanicial assests and liabilities. the main feature is that transactions are reversable.


Oh and hi katrina by the way!


Um... Question. Don't know if this has been asked, but what is the impact of international protection levels on australia?

 

[Jago]

BOP - a record of all transactions between australia and the rest of the world over a period of time

the CA(i assume you meant CA and not the CAD) records the flow of goods and services, incomes and transfers in and out of australia

the CAFA records the flows of investment and finanace between asutralia and the other economies.


Edit: international interdependence, umm ineffeciency of the labour markets and i dunno whatelse
Explain the purpose of montary policy.

 

[mattchan]

Monetary policy which involves influencing the cost and supply of money has the primary objective of achieving price stability in the Australian economy. Once this has achieved, other goals such as low unemployment and economic growth can be targetted.

Question

What impact does the World Trade Organisation have on the Australian economy?

 

[d_a_n_z]

WTO promotes trade liberalisation, through FTA's. Taking over from GATT in 1991(?) they also act as a mechanism for dispute resolution. Recently, Australia has been invloved in the Doha round, faciliated by the WTO to reduce the impact of agricultural subsidies.


Q: Why did economics get put on the LAST DAY of the hsc, meaning all my friends are finihsed and partying on this beautiful sunny day, yet i am at home proctrastinating? (4 marks)

 

[yabby]

i dunno about danz question but im in the same boat

Question

Define the term internation convergence (1)

Discuss the role that TNC's play in globalisation

 

[*Ya_So_CuTe*]

international convergence refers to the increasing similarites between economic conditions of countries which leads to similarities in economic performance and living standards. This is often referred to as a negative aspect of globalisation i na cultural sense , as globalisation has seen TNC's spread popular culture with the emergence of Mcdonalds, Coca- cola etc. Also international convergence has meant that there is greater volatility on the financial market as all changes in the international business cycle are syncronished.

TNC's play an important role as they are essentially the facilitators or ' driving force' of globalistion. They have developed the importance of internationalism in business and have led innovation to dominate market share in various and diverse sectors all over the world. okay.. don't know what else to put there...increase in financial flows???! Bloody eco being on the last day. I agree with everyone's sympathathies.

Anyway here's another q!

Q, Demonstrate the differenence between a real shock and a financial shock and how each may be transmitted between economies ( 4 marks)

 

[Jago]

http://community.boredofstudies.org/showthread.php?t=92288&highlight=financial+shock


Q. What does internalising the externalities mean?

 

[sunjet]

Making it so the businesses have to pay for the externalities so it becomes a cost of production, thus they will consider the environment more, such as a levy or tax on petrol etc.

 

[GrK_GaL]

i agree why do they put eco last, im dying to finish

can someone please put down the major points on micro and macro.

and can i please have some statas and figures on the australian economy, my teacher was away for the topic and we did nothing
really regretting it no (shaking head in shame)

 

[Jago]

try the helpline

13 11 12

Edit:

Q. Outline the arguments for and against the current mix of market and non-market forces used to determine the returns to labour