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An economist named John Maynard Keynes was said to be the reason the Great Depression ended. His economic theory was that the intervention of the government, in relation to applying fiscal and monetary measures, would help control the stability of an economy. Before these measures are implemented there are numerous economic indicators that can be used, that assist in developing the state of an economy.

The Reserve Bank of Australia is currently concerned that inflation is a problem within the Australian economy. They Keynesian theory would require the government and RBA to implement contractionary policies to control this situation.

Economic indicators such as price stability, unemployment rates and economic growth all contribute to showing the levels of inflation within the Australian economy. Inflation is the rise in prices over a period of time. Inflation is one of the most important economic indicators as it combines the results of the unemployment rates, price stability......

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Approximate Word Count: 1048
Approximate Pages: 5 (250 words per double-spaced page)

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