UC知道Discuss what is meant by Fiscal Policy. What are the instruments of fiscal policy?
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2 With the aid of a diagram, show and explain how fiscal policy can be used to shift the aggregate demand. Evaluate the effectiveness of the policy used.
3. Access the 2008-09 Australian Government’s Budget papers and with the aid of statistics, explain the fiscal policy stance adopted.
4. What are the current inflationary pressures being experienced in the Australian economy. Evaluate the appropriateness of the government’s fiscal policy stance.
Q1.The increase compares to rises of 0.4% in June and a fall of 0.3% in May, meaning for the 12 months to the end of July the Inflation Gauge recorded an increase of 1.9%. This puts it just below the Reserve Bank of Australia's (RBA) target band for inflation of 2.0-3.0%.
The July gain was driven by higher prices for communications, which alone contributed 0.27 percentage points to the overall increase, utilities and other housing, while prices for fruit and vegetables, financial services and audio-visual and computing equipment fell in the month.
TD Securities senior strategist Annete Beacher suggests the gauge data hint there has been a bottoming in inflation momentum, though the strength this month was partly through some one-off increases that may unwind in coming months. This means it remains uncertain as to whether or not there are increased inflationary pressures emerging for the Australian economy, particularly as the gauge remains below the RBA'