GDP & Inflation
G-
D-
P-
Fill in each letter with the appropriate word
Gross
Domestic
Product
True or False "All UE is bad"
False!!!!!
The RBA is also known as the ...
Name 1 of the 6 key concepts of Civics and Citizenship.
Westminster System
Rights and Responsibilities
Democracy
Democratic Values
Participation
Justice
New York City
A period in time defined by a fall in GDP/output
What is a recession/depression?
Mr. Muirhead thinks his skills would better be used as being an astronaut, he quits his job. What type of UE is this?
Frictional UE
What can the RBA do during a period of High Inflation?
They can raise interest rates!!!!
The Separation of Powers contain what 3 branches of government?
Legislative
Executive
Judicial
193
How many permanent members in the UN?
GDP output is divided by the population (15-65) in the labour force.
What is GDP per capita?
What is Cyclical UE?
The RBA can implement _______ policy, to help the economy.
What is Monetary?
A society where all groups, demographics and races have a sense of belonging, participation, inclusion, recognition and legitimacy and work together for a common good.
What is a cohesive society?
The legal ability to stop an official action.
What is the 'Right to veto?"
When prices go down and begin a vicious cycle of producers making less and people buying less.
What is Deflation?
This type of UE is characterized by an industry going out of business
What is Structural UE?
What does it mean that the RBA is independent from the government?
They are not elected and the government has no influence on their choices and actions.
A skewed reporting of news/events that leads to misinformation and possibly defamation proceedings.
What is media bias?
Signed, ratified and enforced in the courts.
What are the three steps for a treaty to be legally enforced in Australia?
This economic problem occurred in Zimbabwe in 2007-2009 causing them to abandon their currency.
What is Hyperinflation?
The formula for calculating the total labour force and the unemployment rate?
Total Labour Force = Employed + unemployed
Unemployment Rate = Number of Unemployed divided by the Labour Force (x 100)
Name the new RBA Governor.
Michele Bullock
Name of one of the most widely spread and powerful organised crime networks operating in Australia and abroad, and what is its specific origins?
The Ndrangheta (Italian Mafia) has its origins in the Calabria region of Italy.
France, United Kingdom, Russia, USA, Japan, China
Which country is NOT a permanent member of the UN Security Council? - JAPAN.