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he Australia Act with Britain. The Australian Act was passed in 1986 and the British Parliament no longer had any say on the decisions that the Australian Government wanted to pass. The government was able to base its decisions on what its people wanted and what was best for the economy and society.

 

A country’s economy and its politics are incredibly dependent on each other. Primarily because Australia is a mixed market economy and that there is Government Involvement in the Economy. Conversely, the economy also reflects on the government because it gives the people ideas about who to vote for and whether or not they want to trust the political systems and the present government.

 

Economic Activity: Current and Trends

 

Gross Domestic Product- GDP

 

GDP has become a very popular measure of a country’s economic performance and standard of living. Australia is doing very well, the 2009 GDP Estimate: 851.1 Billion Dollars and is ranked 18th in the world. The total GDP has been increasing steadily. Australia being a developed country maintains a high GDP per capita as well. Some developing countries have large GDPs as well but the GDP per capita is very low; an excellent example would be India.

 

Figure 4 on the left shows the GDP from 1965 and overall there has been a considerable icnrease. The huge spike in GDP started in about 2000, when Australia’s economy was being dominated by tertiary industries.

 

Unemployment

 

As seen in the graph below, the unemployment rate has been quite uniform for the past 8 years. The most recent unemployment rate recorded was 5.2% on December 9th, 2010; this was a 0.2% decrease from November. This is quite an appreciable decrease in one month, and is approximately 19,500 people employed in one month.

 

Australia was actually the first country where full employment was made necessary even though it was a free society. This was all the way back in 1945 and the Australian governemnt has taken various measures to make sure that unemployment is at minimal numbers. The full employment rate was set in 1945 to be 4% and this rate was maintained 1941-1975. The graph above shows a more recent trend graph which is from 2005 and the graph on the below shows unemployment figures from 1980. Australia has done an adequate job to keep the unemployment rate low and it has been going down consistently from 1993. However, in 2009 there was a spike in the unemployment rate. In the graph above, this can be seen more closely, Australia tried to prevent the economic downturn from affecting its economy and people but 2009 wasn’t the best year for them. Fortunately, the unemployement rate is decreasing at a good rate and Australia is still trying to 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。