The Australian Economy · Macroeconomics

Economic Indicators

Introduction to how we measure the health of the economy using GDP, unemployment, and inflation.

Key Questions

  1. 1Does a rising GDP always mean that the average citizen is better off?
  2. 2How does high inflation erode the purchasing power of a household budget?
  3. 3What does a high unemployment rate tell us about the state of the business cycle?

ACARA Content Descriptions

AC9HE7S01
Year: Year 7
Subject: Economics & Business
Unit: The Australian Economy
Period: Macroeconomics

Suggested Methodologies

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Taxation and Government Spending

Analyzing how the Australian government collects revenue and where that money is spent.

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