Please Help (1 Viewer)

[Chromatic]

"Evaluate the likely macroeconomic impact of the 2010/11 Federal Budget"

Your answer should be between 100-150 words.

Does anyone know what to write about/any useful sources for answering this question?

 

[bouncing]

macroeconomic - so expansionary fiscal? trying to get rid of the deficit and reach a surplus within the nxt 3 years

umm i would personally talk about unemployment/inflation/economic growth - etc any one of the goals - is that what it means? what an odd question... please tell me its just ur hw from schoolor something

 

[danal353]

I'm assuming this is a part of the last dotpoint in topic 4 for economics - which requires evaluation of impacts of macroeconomic policies.

Essentially this is more of an essay question than a short answer and it is highly highly unlikely that you will be asked an "evaluate" question in short answer for the HSC where you're only required to write 100-150 words

I think for this specific question you would be expected to identify the surplus/deficit and the change from the previous budget in order to determine whether there is an expansionary effect or contractionary effect on the economy. Then you would very briefly outline a couple of specific examples from the budget and how they would impact on growth, unemployment, inflation and environmental management - i.e. the economic issues which are most relevant. - Though I can't really see how you would fit even this into 150 words... I hope this helps

 

[Chromatic]

I'm assuming this is a part of the last dotpoint in topic 4 for economics - which requires evaluation of impacts of macroeconomic policies.

Essentially this is more of an essay question than a short answer and it is highly highly unlikely that you will be asked an "evaluate" question in short answer for the HSC where you're only required to write 100-150 words

I think for this specific question you would be expected to identify the surplus/deficit and the change from the previous budget in order to determine whether there is an expansionary effect or contractionary effect on the economy. Then you would very briefly outline a couple of specific examples from the budget and how they would impact on growth, unemployment, inflation and environmental management - i.e. the economic issues which are most relevant. - Though I can't really see how you would fit even this into 150 words... I hope this helps

Yeah i'll probably just write a dot point with a sentence or two for each of the economic issues