Econ Assessment Macro & Microeconomics Report
9 pages
(2733 words)
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The severity of the cuts in Great Britain will not happen in Australia as its economy is starting to recover with inflation looming and so a need to raise interest rates (Richardson, 2010, p. 1). In Australia, its educational subsidies are used as a redistributive social policy and worked based on economic theory (Gormley, 1991, p. 79).