Australian Economy and the Chinese Economy - Business Economics

Business Economics:

Questions: 1) Using an appropriate diagram, explain the concept of a stable economic equilibrium and provide your assessment of whether or not the US economy, the Australian economy and the Chinese economy are all currently at a stable equilibrium. 2) Critically examine and demonstrate why it might be necessary for the government to intervene in the production of goods and services and in the distribution of income. 3) Examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives.