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Assessment item 5

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Assignment 5: Problem Question

Value: 10%Due Date: 24-Sep-2018Return Date: 17-Oct-2018Length: Approximately 1000 words.Submission method options: Alternative submission method

Task

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Assignment 5 consists of one problem question worth 10 marks. Before attempting this assignment you are expected to have read Text chapters 12, 13 and 14. You are encouraged to make use of additional sources. Sources used in your answer should be fully referenced in APA 6th style.

Answer the following question ensuring that you apply economic principles or theory related to understanding the health of the economy and the need for government intervention to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answer with diagrams and examples as necessary.

Question (15 marks)

Using appropriate diagrams, explain the likely impact of President Trump’s proposed protectionist policies on macroeconomic equilibrium in Australia and the USA in the short term and in the long term.

Rationale

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This assessment task will assess the following learning outcome/s:

  • be able to critically examine and demonstrate why it might be necessary for government to intervene in the production of goods and services and in the distribution of income.
  • be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives.

This assignment will give you practice in preparing an answer to a question which is similar to the type of questions you are likely to be asked in the examination.