GDP
This is what GDP stands for.
What is Gross Domestic Product?
Inflation is the rise in this over time.
What are prices?
This occurs when people who are willing and able to work cannot find a job.
What is unemployment?
You said you hated the ocean, but you're…”
What is "...surfing now"? (From “Happier Than Ever” – Billie Eilish)
Unlike GDP, this alternative measure from Bhutan aims to track national wellbeing.
What is Gross National Happiness?
GDP measures the total value of these in an economy over a period of time.
What are goods and services?
The most commonly used measure of inflation in Australia.
What is the Consumer Price Index (CPI)?
The percentage of the labor force that is unemployed is called this.
What is the unemployment rate?
I'm good, yeah I'm feelin' alright…”
What is "...Baby I'ma have the best freakin’ night of my life"? (From “I’m Good (Blue)” – Bebe Rexha & David Guetta)
Every month, this organisation meets to decide on interest rates for the country.
What is the Reserve Bank of Australia (RBA)?
This type of GDP is adjusted for inflation.
What is real GDP?
Too much inflation can reduce the purchasing power of this.
What is money?
This type of unemployment occurs when workers’ skills are no longer needed.
What is structural unemployment?
“It’s me, hi…”
What is "...I’m the problem, it’s me"? (From “Anti-Hero” – Taylor Swift)
This Prime Minister famously disappeared while swimming in 1967.
Who is Harold Holt?
If GDP is growing, it usually indicates this kind of economic activity.
What is economic growth?
Inflation that is out of control is called this.
What is hyperinflation?
When someone only has work for part of the year, such as during holidays, it’s called this.
What is seasonal unemployment?
“Don't stop, make it pop…”
What is "...DJ, blow my speakers up"? (From “Tik Tok” – Ke$ha)
What is independent?
A fall in GDP over two consecutive quarters is known as this.
What is a recession?
When demand exceeds supply and drives prices up, it is called this type of inflation.
What is demand-pull inflation?
The term for the percentage of the working age population that is looking for work
What is the participation rate?
“You used to call me on my…”
What is “...cell phone, late night when you need my love”? (From “Hotline Bling” – Drake)
This political party won ONE seat in the House of Reps
What is the Katter Party?