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Source (adapted): https://www.nzherald.co.nz/business/microsofts-giant-new-data-centre-in-northwest-auckland-what-at-reckons-itll-save/
Explain each shift (aggregate supply and aggregate demand curves) shown in Graph One, due to the investment in large data centres.
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Source (adapted):www.nzherald.co.nz/business/survey-reveals-how-much-money-kiwis-are-saving-by-working-from-home/
Explain each shift (aggregate supply and aggregate demand curves) shown in Graph Two, due to increased working from home.
Explain why growth in the New Zealand economy may be greater due to the investment in data centres compared to increased working from home.
Refer to Graphs One and Two in your answer.
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Source (adapted): https://www.nzherald.co.nz/nz/overseas-visitor-numbers-growing-queenstown-airport-almost-back-to-pre-covid-volumes/OF5D77U3UCGXALP2AOSVANWWGM/
Referring to Model One above, explain how an increase in the number of tourists in Queenstown would increase growth in New Zealand.
As the tourism industry continues to recover, the industry association Tourism Industry Aotearoa (TIA) has committed to sustainable tourism by 2025. Tourist businesses that sign up to the commitment must pledge to meet economic, environmental, community, and quality standards.
This is expected to further increase the number of international tourists visiting New Zealand, due to the growth in worldwide demand for sustainable tourism.
Compare and contrast the impact of a successful transition to sustainable tourism on:
different regional growth rates in New Zealand.
workers in different industries, for example the tourism and agricultural sectors.
Real GDP grew by 3.5% in the December quarter of 2021.
This compared to a 0.6% decrease in real GDP in the December quarter of 2022.
Source (adapted): www.stats.govt.nz/indicators/gross-domestic-product-gdp (CC-BY-4.0)
What do the letters GDP stand for?
Explain two reasons why an increase in real GDP is better for the New Zealand economy than a decrease in real GDP.
Why is using real GDP to measure economic growth better than using nominal GDP?
Other measures of growth will include a range of economic and quality of life indicators, for example the Human Development Index.
Compare and contrast the usefulness of using real GDP to measure overall changes in growth with one other measure of economic growth.