Examine the impact of Job Keeper Allowances during the

Assignment Detail:- HI5003 Economics For Business - Holmes Institute Question 1Assume that during the years 2022 to 2025 Woodland Republic could produce only two commodities: tractors and rice- Also, assume that Woodland Republic can procuce at any of the positions represented by the production possibility schedule below-   A B C D E F G H Tractors 0 2 4 7 9 11 13 14 Rice -in tons- 100 95 85 70 60 50 30 0 a- Suppose in 2022 the economy is producing at point D- What is the opportunity cost of producing 6 more tractors in 2023 b- Use the figure below to answer the questions that follow-   i- Suppose, in 2024 the Minister of Finance in Woodland Republic advises the World Bank that in order to increase rice production and tractor manufacturing, each sector requires AUD50 billion, or a total of AUD100 billion- This AUD100 billion is made available by the World Bank- Explain the impact of these AUD100 billion budgetary allocations to the economy of Woodland Republic-ii- Suppose in 2025Woodland Republic begins to manufacture fertilizers- Explain theimpact of the discovery of fertilizers on the Woodland Republic economy- Question 2John plans to start a milk and pizza business in 2022- Suppose John owns a rental premises from which his rental earnings are AUD 3,000 per month- He asks the rental people to leave and uses the premises for the milk and pizza business- The table below represents John's January business summary: Item Cost -AUD- 1 Milk truck  120,000 Milk stainless cans  20,000 Milk cooler  40,000 2 litre milk packs  -Number of packs bought depend on demand- Assume January average expenditure-  30,000 Pizza ingredients -Ingredients used depend on demand- Assume January expenditure-  4,000 2 cashiers -Assume a cashier per section -Milk and Pizza-- Also, wages depend on hours worked- Assume January average wages per cashier-  3,000 2 bakers -Wages depend on hours worked- AssumeJanuary average wages per baker-  3,500 Pizza packaging boxes -Boxes depend on demand- Assume average January boxes used-  2,000 Pizza special oven 25,000 i-       Milk production per day:  300 litres per day Note: Assume 90,000 litres per month produced and bought- ii-      Pizza production per day is 500 pizzas- Assume 15,000 pizzas per month are produced and all that are produced are sold-   Use the table to answer the questions below-a- Calculate John's fixed cost and average fixed cost for eachsection- b- Calculate John's variable cost and average variable cost for each section- c- Assume John sells milk atAUD2-50 per litre- Also, assume John sells each pizza at AUD10-00- Calculate John's accounting profit and economic profit for the month of January- Question 3Assume that Airbus and Boeing are the only firms that manufacture planes in the world- Answer the questions below-a- What is the market structure in which Airbus and Boeing operate???? Explain your answer using the market characteristics for the two firms -Airbus and Boeing-- b- Examine the market entry barriers that deter other firms from entering the market structure for Airbus and Boeing- c- What do you understand by the term "Mutual Interdependence" for Airbus and Boeing- Question 4a- In 2021, theWoodland Republic Bureau of Statistics publication indicated thatthe Consumer Price Index -CPI- of the country increased to 109-2 in 2021 from 106-5 in 2020- Calculate Woodland Republic's inflation rate in 2021- b- The Woodland Republic's Population Secretariat published the following information in 2021:• Total population: 30 million• Labor force: 80% of the total population• Employed population: 21-5 million Use the information provided to answer the following questions:i- Calculate the population that is excluded from the labour force in Woodland Republic in 2021 and indicate at least four sectors that are excluded from labour force- ii- Calculate the Woodland Republic's unemployment rate in 2021- Question 5 -i- Use two -2- coincidental indicators to explain the conditions that are experienced in a nation during a recession- -ii- Examine the causes of business cycle fluctuations in a nation- -iii- Suppose the following information was published by the Australian Bureau of Statistics in 2017: Item Amount -AUD billion- Household consumption 5,029-81 Government consumption 20,340-92 Exports 1,386-39 Value of cocaine seized at Sydney Airport 20,500 Value of intermediate goods in tractor manufacturing  502,003 Gross private domestic investment 352-69 Imports 386-95 Components used in the manufacture of cars 40,000 Gifts 15,236 Government investment 88-19 Value of second-hand goods 500-00 Value of banned endangered species elephant tasks seized at Melbourne Airport 600-00 Use the information provided to calculate Australia's GDP in 2017 Question 6 Due to the severity of COVID 19 on households, the government of Australia announced Job Keeper Allowances to be given to the labour force that had lost employment- a- Examine the impact of Job Keeper Allowances during the COVID 19 recession on Australia's economy- b- Examine two reasons that could explain why the government of Australia terminated Job Keeper Allowances though COVID 19 still impacted Australia- c- Assume the government of Australia spent AUD50 billion on allowances given to Job Keeper beneficiaries- Assume that despite the family financial stress, 15% of the Job Keeper Allowances was the total beneficiary savings-Further, assume all other factors remain constant- Calculate the total effect of the Australian government Job Keeper Allowancespending on aggregate demand for the economy-

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