Microeconomic reform in Australia included:
A) the reduction of tariffs.
B) higher regulation of the Australian financial system.
C) holding interest rates under controls.
D) less flexibility in work practices.

Question

Quizplus · Accepted Answer

Microeconomic reform in Australia included the reduction of tariffs, which aimed to increase competition, lower prices and improve efficiency. The other options listed (B, C, and D) do not accurately represent microeconomic reform in Australia. In fact, microeconomic reform in Australia involved deregulation and privatization, as well as the introduction of competition policy and the implementation of a more flexible labor market.

Microeconomic Reform in Australia Included