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hsc economics statistics Flashcards

1
Q

GDP Growth Target

A

At least 3% (Okun’s Law)

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2
Q

GDP Growth (pandemic)

A

-6.1%

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3
Q

GDP Growth (post-pandemic)

A

10.6%

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4
Q

GDP Growth (2024)

A

1%

And RBA forecast: Return to target range by second-half of 2025

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5
Q

Headline Inflation Target

A

2-3%

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6
Q

Headline Inflation (Pandemic)

A

-0.3%

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7
Q

Headline Inflation (Post-Pandemic)

A

7.8%

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8
Q

Headline Inflation (2024)

A

3.8%

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9
Q

Unemployment Target

A

4-5% (NAIRU)

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10
Q

Unemployment (Pandemic)

A

7.5%

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11
Q

Unemployment (Post-Pandemic)

A

3.5%

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12
Q

Unemployment (2024)

A

4.1%

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13
Q

Terms of Trade (2020)

A

80

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14
Q

Terms of Trade (2021)

A

99

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15
Q

Terms of Trade (2022)

A

107

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16
Q

Terms of Trade (2024)

A

95 (Increased by 50% since 2016)

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17
Q

Trade Weighted Index (mining investment boom; 2013)

A

79

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18
Q

Trade Weighted Index (2024)

A

62.5 (down 18% since 2013)

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19
Q

BOGS (2013 to 2024)

A

-$37.8bn (2013) to $138.8bn (2024)

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20
Q

BOGS (% of GDP) 2020

A

4.5%

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21
Q

BOGS (% of GDP) 2022

A

7%

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22
Q

BOGS (% of GDP) 2024

A

3.5%

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23
Q

NPY 2015 to 2023

A

-$39bn (2015-16) to -$108.7bn (2022-23)

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24
Q

NPY (% of GDP) 2020

A

-1%

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25
Q

NPY (% of GDP) 2023

A

-5.5%

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26
Q

NPY (% of GDP) 2024

A

-3.5%

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27
Q

Current Account (% of GDP) 2020

A

3%

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28
Q

Current Account (% of GDP) 2021

A

4%

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29
Q

Current Account (% of GDP) 2024

30
Q

NFD (% of GDP) 1991

31
Q

NFD (% of GDP) 2016

31
Q

NFE (% of GDP) 1991

32
Q

NFD (% of GDP) 2024

33
Q

NFE (% of GDP) 2016

34
Q

NFE (% of GDP) 2024

35
Q

NFL (% of GDP) 1991

36
Q

NFL (% of GDP) 2016

36
Q

NFL (% of GDP) 2024

37
Q

International Competitiveness
(IMD World Competitiveness Ranking) Pandemic

37
Q

International Competitiveness
(IMD World Competitiveness Ranking) Post-Pandemic

38
Q

International Competitiveness
(IMD World Competitiveness Ranking) 2024

38
Q

Fiscal Stimulus 2023

38
Q

Fiscal Stimulus 2021

38
Q

Fiscal Stimulus 2022

38
Q

Cash Rate Post-Pandemic

38
Q

Fiscal Stimulus 2025

38
Q

Fiscal Stimulus 2024

38
Q

Govt. Spending Pandemic

A

JobKeeper: $100bn
JobMaker: $4bn

38
Q

Govt. Spending Post-Pandemic

A

Energy subsidies: $1.5bn
Childcare spending: $4.7bn, 5% subsidy
Increased JobSeeker by $40 per fortnight

38
Q

Cash Rate Pandemic

38
Q

Cash Rate 2024

39
Q

Govt. Spending 2024

A

$300 rebate for electricity in 2024
$70+ Rent Assist
Stage 3 tax cuts

40
Q

Unconventional Monetary Policy Pandemic

A

Asset purchases: $281bn
Term Funding Facility: $190bn

41
Q

Gini Coefficient for Income

A

Averaged around 0.32 (but temporarily fell in pandemic due to JobSeeker being doubled)
- This is around the OECD average

42
Q

Gini Coefficient for Wealth (OECD average)

43
Q

Gini Coefficient for Wealth (Australia)

44
Q

Labour productivity 1990s

45
Q

Labour productivity 2010s

46
Q

Labour productivity since 2019

47
Q

Greenhouse Gas Emissions Target

A
  • Net 0 by 2050
  • 43% decrease from 2005 levels
48
Q

Carbon tax (2013-2014)

A

Carbon price of $23 per tonne reduced electricity emissions by 9%

49
Q

Paris Agreement Target

A

Maximum climate increase of 1.5 Degrees Celsius

50
Q

Australian Deforestation

A

Top 10 in the world

51
Q

Australian Extinction

A

4th highest rate of animal extinctions in the world

52
Q

GWP growth 2020

53
Q

GWP Growth Post-Pandemic

54
Q

GWP Growth Now

55
Q

China’s economic growth trend (1991 to 2024)

A
  • Average of 10% (1991 to 2011)
  • Fell to -7% in the pandemic
  • 18.7% Post-Pandemic (Recovery)
  • 4.7% (2024)
56
Q

China’s HDI

A

0.50 to 0.75 in 25 years

57
Q

Other China Development Stats

A
  • Average incomes are 57 times higher in 2020 than in 1980
  • 850 million people lifted out of poverty since 1985
  • Life expectancy has increased by 11 years since 1979
58
Q

China Environmental Stats

A
  • 1.2 million people die prematurely every year from air pollution
  • 2 out of 3 cities have water shortages
  • 25% of rivers and lakes are too dangerous for human contact
  • Greenhouse gas emissions have tripled since 2000
59
Q

China Gini Coefficient

A
  • Gini coefficient rose to 0.49 in 2008 and fell to 0.47 in 2020 (50% higher than Australia)

hsc economics; statistics (1 decks)

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