Determinants of GDP and Wage Growth in Australia

Running head: ECONOMICS
Economics
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Name of the university
Author note

ECONOMICS
Answer 1
Year
Consump
tion
Investme
nt
Governm
ent
Expendit
ure
Net
export
1987
30806.
83
8026.4
64
8166.5
71
1848.0
43
1988
31275.
45
8476.4
37
8325.3
62
1888.0
47
1989
32103.
61
9246.9
48
8444.0
18
1115.0
92
1990
32893.
98
9204.0
85
8550.0
86
1113.9
93
1991
33000.
96
8231.2
65
8717.5
42
1923.7
03
1992
33447.
09
7822.0
63
8849.0
53
2313.3
05
1993
33819.
8
8264.8
15
8991.1
5
2494.2
03
1994
34115.
37
8658.4
28
9000.3
41
2786.9
44
1995
35086.
56
9493.0
27
9187.6
12
2346.4
63
1996
35935.
85
9640.8
75
9462.7
52
2818.5
37
1997
26994.
86
10180.
87
9557.6
42
3147.1
09
1998
28034.
62
11055.
39
9841.1
6
2932.0
6
1999
29306.
77
11415.
86
10170.
77
2754.8
19
2000
30200.
51
12196.
83
10362.
4
2852.3
53
2001
30766.
47
11085.
88
10404.
12
3749.8
85
2002
31365.
27
11962.
29
10604.
4
3554.3
19
2003
32264.
89
13315.
07
10796.
05
2637.5
44
2004
33520.
75
14320.
16
11151.
05
1679.4
87
2005
34586.
1
14994.
28
11361.
86
916.22
78
2006
35161.
86
15986.
15
11538.
16
423.70
53
2007
36389.
68
16399.
74
11681.
75
-
234.05
8
2008
37361.
71
17455.
04
11777.
63
-
1410.8
1
2009 36904. 17404. 12050. -

ECONOMICS
55 99 06
682.57
8
2010
37577.
86
17464.
14
12089.
27
-
998.44
5
2011
38468.
63
17811.
85
12306.
48
-
2185.0
4
2012
38911.
2
19515.
07
12530.
13
-
3174.0
6
2013
38971.
14
19782.
23
12367.
32
-
2531.7
9
2014
39343.
02
19152.
23
12375.
63
-
1410.2
2
2015
39688.
33
18280.
12
12494.
11
-
644.16
4
2016
40103.
59
17358.
65
12811.
11
313.82
12
2017
40410.
66
17050.
19
13242.
56
437.97
19
2018
41025.
39 17564
13581.
79
-
22.627
8
Table 1
(Source: Australian Bureau of Statistics, Australian Government. 2019).
The above table shows the determinants of the gross domestic product in terms of per
capita which means all the values have been divided by the total population. The variables
which are needed to calculate the gross domestic product are consumption, investment,
government expenditure and the net exports. The net exports is the difference between the
total exports and the total imports from the year 1987/88 to 2017/2018. The consumption per
capita in the year 1997 had been 26994 which then increased to 41025 in the year 2018. The
values of the government investment showed that it have increased from 1997 to 2008,