Real product, income, and relative prices in Australia and the United Kingdom

Abstract

This monograph provides a statistical comparison of the levels of real product and income in Australia and the United Kingdom. As well as overall totals, details are given of the expenditure and relative prices of individual goods and services comprising national product. These estimates provide much of the information needed to compare the levels of living standards and industrial production in the two countries, and therefore enable these aspects of Australian economic conditions to be placed in international perspective. The study should be of particular interest to intending migrants and tourists from the United Kingdom as it shows prices and distribution of personal expenditure compared with those in their own country. Business firms operating in both countries should find useful the figures of the comparative cost of producing different goods and services. Finally, the estimates of product and expenditure should assist economists and sociologists in studying the pattern of consumer and national spending in Australia compared with that in the United Kingdom. Show more