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hsc economics statistics Flashcards

(72 cards)

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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
NPY (% of GDP) 2023
-5.5%
26
NPY (% of GDP) 2024
-3.5%
27
Current Account (% of GDP) 2020
3%
28
Current Account (% of GDP) 2021
4%
29
Current Account (% of GDP) 2024
0%
30
NFD (% of GDP) 1991
33%
31
NFD (% of GDP) 2016
59%
31
NFE (% of GDP) 1991
12%
32
NFD (% of GDP) 2024
45%
33
NFE (% of GDP) 2016
-1%
34
NFE (% of GDP) 2024
-14%
35
NFL (% of GDP) 1991
45%
36
NFL (% of GDP) 2016
58%
36
NFL (% of GDP) 2024
31%
37
International Competitiveness (IMD World Competitiveness Ranking) Pandemic
22nd
37
International Competitiveness (IMD World Competitiveness Ranking) Post-Pandemic
19th
38
International Competitiveness (IMD World Competitiveness Ranking) 2024
13th
38
Fiscal Stimulus 2023
0.9%
38
Fiscal Stimulus 2021
-6.2%
38
Fiscal Stimulus 2022
-1.5%
38
Cash Rate Post-Pandemic
4.35%
38
Fiscal Stimulus 2025
-1%
38
Fiscal Stimulus 2024
0.3%
38
Govt. Spending Pandemic
JobKeeper: $100bn JobMaker: $4bn
38
Govt. Spending Post-Pandemic
Energy subsidies: $1.5bn Childcare spending: $4.7bn, 5% subsidy Increased JobSeeker by $40 per fortnight
38
Cash Rate Pandemic
0.1%
38
Cash Rate 2024
4.35%
39
Govt. Spending 2024
$300 rebate for electricity in 2024 $70+ Rent Assist Stage 3 tax cuts
40
Unconventional Monetary Policy Pandemic
Asset purchases: $281bn Term Funding Facility: $190bn
41
Gini Coefficient for Income
Averaged around 0.32 (but temporarily fell in pandemic due to JobSeeker being doubled) - This is around the OECD average
42
Gini Coefficient for Wealth (OECD average)
0.75
43
Gini Coefficient for Wealth (Australia)
0.61
44
Labour productivity 1990s
2.2%
45
Labour productivity 2010s
1.1
46
Labour productivity since 2019
0% growth
47
Greenhouse Gas Emissions Target
- Net 0 by 2050 - 43% decrease from 2005 levels
48
Carbon tax (2013-2014)
Carbon price of $23 per tonne reduced electricity emissions by 9%
49
Paris Agreement Target
Maximum climate increase of 1.5 Degrees Celsius
50
Australian Deforestation
Top 10 in the world
51
Australian Extinction
4th highest rate of animal extinctions in the world
52
GWP growth 2020
-3.1%
53
GWP Growth Post-Pandemic
3.2%
54
GWP Growth Now
3.2%
55
China's economic growth trend (1991 to 2024)
- Average of 10% (1991 to 2011) - Fell to -7% in the pandemic - 18.7% Post-Pandemic (Recovery) - 4.7% (2024)
56
China's HDI
0.50 to 0.75 in 25 years
57
Other China Development Stats
- 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
China Environmental Stats
- 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
China Gini Coefficient
- 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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