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http://community.boredofstudies.org/13/mathematics-extension-1/328196/~free~-prelim-hsc-mathematics-extension-1-notes.html

Labour is factor of production, therefore an increase in the minimum rate of employer superannuation contributions will lead to an increase in costpush inflation. Their wage remains the same regardless of the rate increase. This is according to my understanding. Correct me if I'm wrong.

A) would be more appropriate as during a recession a country would benefit from having a lower exchange rate. This would increase the country's international competitiveness, stimulating aggregate demand (X) and economic growth through exports.

Assuming this is a MC question from 2010 HSC, A) should be: A country experiencing a recession fixes its currency to that of a country in which interest rates are low.

No problem :)

I'm not sure if this is all technically correct, but using 100 as the base for CPI. Food: 0.15*20=3 Housing: 0.2*10=2 Health: 0.05*50=2.5 Therefore, food contributes most to the inflation rate.

98.15

Thanks for your reply :)

Thanks but that's the seventh edition.

Hey, Does anyone have the answers to the fifth edition workbook for Australia in the Global Economy?? Any help would be appreciated. Cheers, milkman007.