Comparing Economies: Australia and Indonesia Flashcards

1
Q

Compare the types of economies of Australia and Indonesia

A

While both are mixed market economies, Australia is an advanced economy, while Indonesia is a developing economy.

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2
Q

Compare the GDP’s of Australia and Indonesia

A

Aus - $1393b

Ind. - $1119b

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3
Q

Compare the per capita incomes of Australia and Indonesia

A

Aus - $52,000

Ind. - $12,000

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4
Q

Compare the GDP growth of Australia and Indonesia

A

(2019)
Aus - 1.9%
Ind. - 5%

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5
Q

Identify the main features of Australia as an advanced economy

A
High per capita income and living standards
High trade orientation
Industrialised
High levels of saving and investment
High level of human development
High degree of environmental quality
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6
Q

Identify the main features of Indonesia as an emerging economy

A

Low per capita incomes and standards of living
Industrialising
Low levels of saving and investment
Low quality of human development

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7
Q

Account for recent trends in Indonesia’s GDP growth

A

Expanded its industrial and service output, increased its exports, opened up to foreign investment

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8
Q

Account for recent trends in Australia’s GDP growth

A

Strong growth during 2000’s from mineral exports during global resources boom. Growth slowed in recent years as Australia transitions to non-mining sources of growth.

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9
Q

Compare the quality of life between Australia and Indonesia.

A

Human Development Index: Mean years of schooling:
Aus - 0.9 Aus - 12.7
Ind. - 0.7 Ind. - 8

Life expectancy: GNI per capita:
Aus - 83.3 Aus - $44,000
Ind. - 71.5 Ind. - $11,200

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10
Q

Compare the employment trends of Australia and Indonesia

A

Participation rate:
Aus - 64.6%
Ind. - 66.2%

Unemployment:
Aus - 4.9% (2019-20)
Ind. - 7%
Unemployment rates due to different responses to COVID

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11
Q

Compare the structure of employment between Australia and Indonesia

A

Primary Industries: Secondary Industries:
Aus - 5% Aus - 8%
Ind. - 29% Ind. - 21%

Tertiary:
Aus - 87%
Ind. - 49%

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12
Q

Compare the income distribution in Australia and Indonesia

A

Gini coefficient
Aus - 0.344
Ind. - 0.39

Share of income: Poorest 20%
Aus - 7.4%
Ind. - 6.7%

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13
Q

Account for Australia’s more equitable income distribution

A

Progressive tax system and welfare payments - higher tax paid by higher income earners, redistributed to pensions, unemployment benefits.

Indonesia’s taxation social welfare system is less robust and generous.

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14
Q

Compare the environmental quality of Australia and Indonesia

A

Access to safe water:
Aus - 100%
Ind. - 89%

Annual Deforestation
Aus: -0.2%
Ind: -0.6%

CO2 Emissions :millions of metric tonnes
Aus - 361
Ind. - 370

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15
Q

Account for the difference in environmental quality between Australia and Indonesia

A

Indonesia’s rapid industrialisation has led to deforestation, pollution and deterioration.

Australia has strong regulations, but is still challenged by pollution, land degradation, overexploitation of resources.

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16
Q

Compare government expenditure as a proportion of GDP between Australia and Indonesia

A

Aus - 20% of GDP

Ind. - 10% of GDP

17
Q

Compare the government’s role in health in Australia and Indonesia (spending and aims)

A

Aus - 14% of budget spending ($94b)
Ind - 3% of GDP

Aus - directed at medical and hospital benefits
Ind - directed at malaria, AIDS, immunisation for infants,

18
Q

Compare the government’s role in education in Australia and Indonesia

A

% of GDP spending
Aus - 5%
Ind. - 4%

19
Q

Compare the government’s role in social welfare in Australia and Indonesia

A

% of budget spending
Aus - 34%
Ind. - 26%