GDP and Wellbeing in Australia

Recall Australia's global GDP ranking in 2017:

• 1st

• 10th

• 13th

• 19th

Recall what real GDP adjusts for:

• Population size

• Tax cuts

• Inflation

• Environmental impact

Explain why Australia has a higher GDP per capita than China, despite China's GDP being much larger than Australia's.

• Australia does not have a higher GDP per capita than China.

• Because Australia's GDP is boosted by manufacturing.

• Because China's GDP growth rate is slower than Australia's.

• Because Australia has a smaller population among which to

  distribute its GDP.

"Australia's GDP growth rate decreased from 2016 to 2017; therefore, Australia's GDP decreased over this time."

• True

• False

The interactive graph below shows Australia's GDP per capita in constant 2010 US$ from 2000 to 2017. Identify Australia's GDP per capita in 2017:

• Constant 2010 US$55, 925

• AU$55,925

• Constant 2010 US$51, 730

• AU$51,000

Recall when Australia last experienced a recession:

• 1991

• 1999

• 2010

• 2014

Recall Australia's global ranking for the mean number of years adults spend in education over their lifetimes:

• 1st

• 3rd

• 7th

• 14th

The mean number of years spent in education by adult Australians is a​ (a)   non-economic indicator of wellbeing used to assess access to knowledge. Mean years in schooling has​ (b)   in Australia since 1950; this​ (c)   with increases in GDP per capita.

• quantitative
• increased
• positively correlates

Countries that spend more money on healthcare per person tend to have higher life expectancies. Select the best description of how Australians’ average life expectancy compares to current healthcare expenditure per capita.

• Australians have a lower life expectancy than would be expected given Australia's above average healthcare

  expenditure.

• Australians have a higher life expectancy than would be

  expected given Australia's below average healthcare

  expenditure.

• Australians have a higher life expectancy than would be expected given Australia's slightly above average healthcare

  expenditure.

• Australians' low life expectancy aligns with Australia's high

  healthcare expenditure.

"The increase in Australia's GDP per capita means that every Australian experiences equivalent increases in holistic wellbeing".

• True

• False