In recent years, Australia has faced increasingly sophisticated cyber security threats targeting critical infrastructure, financial institutions, and communication networks. According to federal security reports, the frequency of state-sponsored cyber operations and ransomware attempts has nearly doubled over the past five years. This escalation has prompted substantial public sector capital investment to secure essential services and federal IT architectures.
While private enterprises are responsible for securing their own internal systems, the strategic hardening of national core systems is funded directly by national public agencies. Table 1.1 outlines the public sector investment in national cyber security infrastructure. This spending can be assessed relative to the scale of the national economy; Australia's GDP was AUD 1,500 billion in the fiscal year 2023/24.
| Year | Expenditure (AUD million) |
|---|---|
| 2019/20 | 280 |
| 2020/21 | 310 |
| 2021/22 | 350 |
| 2022/23 | 390 |
| 2023/24 | 450 |
Using the data in Table 1.1 and the information in Extract 1, calculate public sector expenditure on cyber security infrastructure as a percentage of GDP in 2023/24. Show your working.
43 exam-style questions on OCR A Level Economics Trends in macroeconomic indicators. Each one has a worked solution and a mark scheme showing where the marks go.