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Yr 11 Eco pls Help asap (1 Viewer)

adrian597

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I have an Economics assessment in class on how the Australian Government Intervenes in the Australian Economy. I am struggling to comprehend micro and macro policies and fiscal and monetary policies etc.

Help plz!
 
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bored of sc

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having no idea with economicsy stuff - ill have a go anyway

here's what i found from google

The basic idea of the macroeconomic policy is to use the fiscal and monetary policy to achieve an output gap that is neither so high that it leads to excessive unemployment and lost output nor too low that it leads to rising inflation. However, this is not nearly as simple as it sounds.

Fiscal policy refers to government policy that attempts to influence the direction of the economy through changes in government spending or taxes.

Monetary policy is the process by which the government, central bank, or monetary authority manages the supply of money, or trading in foreign exchange markets.[1] Monetary theory provides insight into how to craft optimal monetary policy.

Hope that helps - probably not cause I'll I did was take it from wikipedia an other sites. So sorry, for wasting your time. I tried :)
 

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