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Australia was one of few countries to pursue a zero-COVID "suppression" strategy until late 2021, meaning it aimed to minimise domestic community transmission. Implementation involved strict controls on international arrivals and responding to local outbreaks with lockdowns and exhaustive contact tracing of domestic COVID-19 clusters. Australian borders were closed to all non-residents on 20 March 2020, and returning residents were required to spend two weeks in supervised quarantine hotels from 27 March 2020. Finally on 21 February 2022 border restrictions were removed for all vaccinated people, including non- citizens such as tourists and new immigrants, effectively opening Australia up to the world. As a result of these government responses, there has not been any immigration into Australia from other countries whether they are skilled workforce from the developed world or the unskilled workers from the developing world. In this essay question, ignoring the other labour market impacts of the Covid-19 pandemic, using your critical thinking skills briefly assess the potential impacts of the Australian border closure on the labour market outcomes of the native workforce according to the theoretical models of immigration studied in this unit.
What might cause long-term interest rates to rise in late 2020, although currently the Reserve Bank interest rate is almost zero?
Assume the new leadership in Congress decides to repeal some of the tax breaks granted to large businesses during the past several years.
1) Johnson Inc. is a firm operating in a market with one other larger firm. The market is a mining industry for a rare metal. Johnson Inc. has the following short-run cost curve:
1.) Suppose Bob owns a pizza place in a competitive market. If an additional worker will cost Bob $200 and offers marginal productivity of 40 pizzas, what is the marginal cost of producing a pizza? Show your work and explain your reasoning.
What is the rate of growth of Canada and how does it compare how does it compare to the economic growth rate for in the United States in 2019/2020?
Is your employee affected by increases in the minimum salary. In what way is your employer affected by minimum wage increases.
Suppose that a less developed country known as LDC encourages direct foreign investment
The following reaction yields a very large Kp. What does that mean?
Find the long-run growth of physical capital, human capital, and output in this economy.
1. a) Distinguish between the two output gaps in the economy. b) Assuming the economy begins in long run equilibrium and policy makers take no action, use AD-SAS-LAS diagrams to show the short and long run effects on output and inflation of a shar..
How does international trade affect the prices in the domestic market and decisions related to firms to compete in both domestic and international markets? Do you oppose trade restrictions? Who have been the winners and losers as a result of the N..
Explain how would you explain reservations in the United States about the implementation of NAFTA. Do you think that NAFTA is a "good thing".
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