ATMC BUS102 Introduction to Economics – Semester 2 2017Assessment task 2 – Responses to articles -...

Question

ATMC BUS102 Introduction to Economics – Semester 2 2017Assessment task 2 – Responses to articles - Article 1 DUE via Safe Assign 5pm Sunday 27th August“Three things that make New Zealand better” by Frank Chung and AAP is available at: http://www.news.com.au/finance/economy/three-things-that-make-new-zealand-better/news-story/efb745fbae40c0dd14e444cdeb60b3fdAccess the article at the URL given above and answer the questions in the spaces below. Use full sentences and show all necessary working but do not use more space than is given here. Other references are not necessary but, if you do use any (for example, online economics glossaries) please list at least the URL of your source. Marks are shown and total [15].(1) Bloxham claimed that New Zealand “was the fastest growing of the 34 OECD economies in the last year”. State the latest annual growth rate available for New Zealand and Australia and work out how many years it would take for New Zealand’s per capita GDP to overtake that of Australia’s? (State the source of your data and show your working)    [4](2) New Zealand is considered a rock star economy. Using the Income Accounting identity explain which sectors have performed well. [3]
	
Document Preview: NAME:ID NO:Tutor’s name:ATMC BUS102 Introduction to Economics – Semester 2 2017Assessment task 2 – Responses to articles - Article 1   DUE via Safe Assign 5pm Sunday 27th August“Three things that make New Zealand better” by Frank Chung and AAP is available at:  HYPERLINK "http://www.news.com.au/finance/economy/three-things-that-make-new-zealand-better/news-story/efb745fbae40c0dd14e444cdeb60b3fd" http://www.news.com.au/finance/economy/three-things-that-make-new-zealand-better/news-story/efb745fbae40c0dd14e444cdeb60b3fdAccess the article at the URL given above and answer the questions in the spaces below. Use full sentences and show all necessary working but do not use more space than is given here. Other references are not necessary but, if you do use any (for example, online economics glossaries) please list at least the URL of your source. Marks are shown and total [15].  (1) Bloxham claimed that New Zealand “was the fastest growing of the 34 OECD economies in the last year”. State the latest annual growth rate available for New Zealand and Australia and work out how many years it would take for New Zealand’s per capita GDP to overtake that of Australia’s? (State the source of your data and show your working)								 			                                                                                                     [4](2) New Zealand is considered a rock star economy. Using the Income Accounting identity explain which sectors have performed well.								[3]		                                                                                                            (3) The Closer Economic Relations (CER) deal signed by Australia and New Zealand is considered a key element of which type of economic policy consensus? Explain how this agreement has beneficial effects on the economy of the two countries and what are the others key points of this type of Economic thought.				                    		                                ...

David · Accepted Answer

Paul Bloxham  who is working as chief economist in a private bank which operates in 
Australia, New Zealand and many countries. He has mentioned in this article that the New 
Zealand‟s economics was fast grown in the last year out from OECD (Organisation for 
Economic Co-operation and Development) countries.   But New Zealand produced good 
annual rate in the year 1960„s itself.   As per US dollars value New Zealand GDP was $2,313 
in  the year 1960 at the same time Australia GDP  was $1,807 on that period.  New Zealand 
shown high growth rate than Australia up to 1964. After that Australia started to produce high 
growth rate than New Zealand.    
2017 Annual Growth Rate: 
New Zealand   =    2.5 % 
Australia          =    1.7 % 
Starting from 1965 to 2014, Australia was produced high growth rate than New Zealand, but 
in the year 2015 New Zealand produced 4.5 % in the first quarter which was higher than 
Australia able to produced 2.3 % in the first quarter on that period as per trading economics 
sources. 
After 50 years New Zealand come back to its position and shown able to produce more than 
Australian annual growth rate. 
2015 – 1965=50 years. 
Resource: 
https://tradingeconomics.com/new-zealand/gdp-growth-annual 
https://tradingeconomics.com/australia/gdp-growth-annual 
https://www.

ATMC BUS102 Introduction to Economics – Semester 2 2017 Assessment task 2 – Responses to articles - Article 1 DUE via Safe Assign 5pm Sunday 27 th August “Three things that make New Zealand better” by...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment