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Draw and label a graph of the PPF model representing Australia in 2018. Assume the Australian economy has a 6%

unemployment rate and around 2.5% inflation rate. Note on graph with the letter A your estimation where Australia's 2018 output combination would lie.with the letter b identify an unattainable output level ,with C an efficient level of output and with d an ineffecient output level of GDP. In addition draw and label a second PPF line representing Australia in 2019 that reflects the combination and full uptake of the national broadband network ceteris Paribus.

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The Australia's output combination in 2018 lies inside the... View the full answer

PPF 2018.jpg

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