Effects of economic growth (notes)

Effects of frugal suppuration: Living standards: Faster frugality harvest-tide results in an append in real GDP per capita. square wages feces rise & households stinker delight a prouder(prenominal) dispos adequate income & therefore game real(a) standards eg. hurried sparingal ingathering in Australia resulted in 3.0% yearbook development in per capita real incomes in the decade 2003 compared to 1.4% in the 1980s Employment: Economic result creates jobs & a strong enough level of economic yield can help to ensure that everyone who is willing and able to find exploit is able to find employment; excessively changes the nature of the jobs operational (more highly paid, higher skilled jobs) Inflation: Higher economic growth, higher prices & larger wage claims ie. higher inflation. especially the depicted object if put downing is growing when the thrift is close to its full mental ability & growth in aggregate supply cannot watch over u p with growth in aggregate demand. Government aims to keep growth at a level that is not so high that it prompts a surge in inflation - sustainable rate of economic growth External stableness: Stronger economic growth in Australia is practically associated with change magnitude consumer & business spending, and as a result, higher levels of imports. Australian consumers spend a high simile of their disposable income on merchandise G&S = rise in blackguard ie. poses risk to the external stability of the economy Income distribution: Although it is thought that higher economic growth contributes to higher living standards, it often unless benefits a particular convocation of populate such as shareholders or company executives (higher income earners), quite than flowing more more often than not to people through wage increases or improved habitual services. environmental impacts: If growth is pursued with little regard to its impact on the environment, it can resul t in pollution, depletion of non-renewable e! nergy resources and damage... If you want to recover a full essay, order it on our website: BestEssayCheap.com

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