2 short answer questions (2 Viewers)

[brunette]

hey guys i was doin the 2001 HSC and i was wondering if someone could shine some light on a couple of questions

1. Explain how microeconomic policy can bring about structural change in Australia (4 marks).


and
2. (lets say i had the Lorenz graph with two curves L1 closer to the line of equality than L2) How would i know that L1 indicates the more equitable distrubution of income (2 marks - but 1 is for indentifying it is L1)

or di i just give myself the answer? coz it is closer? i dont know lol



anywayz if someone could ive me a little idea i would be great

 

[Teoh]

Yeah, which ever line is closest to the line of equality is most equal
A/A+B or whatever...

Microeconomic policy involves realocation of resources which will lead to some inefficient industries being dissolved in order to ad to the factors of production of more efficient industries?

i dunno

 

[brunette]

yeh that first question sounds easy but i have no idea what to write for it

 

[aditya]

effective resource allocation through the deregulation of industries and the STRUCTURE of the ecnoomy. This would effectively eliminate the weak industries as the resources move to the more yeh