Economics · May / June 2023 · Paper 22 · Question 4
2281
As printed in the paper
The question as text
In 2020, Australia had a high national minimum wage (NMW). The NMW is received by some people who work on Australian dairy farms. Australia produces milk and soft drinks. Milk is purchased by some people as an alternative to soft drinks. Some dairy farms and some small firms went out of business in 2020. The year saw an increase in the value of the country’s floating foreign exchange rate.
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4(a)[2]
4(b)[4]
4(c)[6]
4(d)[8]
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