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Asia Pacific Region World Trade Organisation
2,078 wordsTrade and investment Australia's export structures have changed considerably over the past 15 years. Although trade in commodities remains strong, new services and sophisticated manufacturing export markets have emerged. Merchandise exports were valued at $ 86 billion in 1998 - 99. During the same year, Australian exports of services totalled $ 26 billion. Exports recorded seven per cent average annual growth in the five years to 1998 - 99. They now account for 20 per cent of GDP, compared with ...
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Australian And Indonesian Economies
948 wordsWhat are the major points of contrast between the Australian and Indonesian Economies? The major points of contrast between the Australian and Indonesian economies are: GDP, GDP growth, inflation, unemployment and quality of life. In this essay I will also discuss the quality of the environment in each. There is also a large contrast between the land area and population of each nation. The World Bank classifies Australia as a developed economy. It is a mixed market economy because the price mech...
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Supply And Demand Australian Dollar
1,666 wordsWhat factors affect the demand and supply of Australian dollars in the foreign exchange markets? Distinguish between the possible causes and effects of a currency depreciation and a currency appreciation on the Australian economy. What forces have come into play, if any, in the past four months that have affected the value of the Australian dollar? Exchange Rate: The rate at which one unit of domestic currency is exchanged for a given amount of foreign currency
A BRIEF HISTORY OF THE AUSTR...
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Inflation And The Australian Economy
980 wordsInflation is one of the most important features of the Australian Economy. It is basically the measure of how much prices rise each year. The most common and widely acceptable unit for measuring inflation is the Consumer Price Index (CPI). During 2000 - 2002, there have been many factors contributing to inflation, especially in the March Quarter of 2002. Generally in most cases, governments try to maintain low inflation levels to stabilise the economy. Inflation is the loss in purchasing power o...
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Australia In The World Economy
1,110 wordsAustralia is quite a rich economy in terms of Gross Domestic Product (GDP) per head of population, ranking 17 th in the world. However, this has dropped from a ranking of fourth in 1950, and ninth in 1970. This could be seen as a sign of poor economic performance, however other factors that contribute towards a high standard of living, such as environmental considerations, need to be taken into account. For much of the period up to the 1960 s most of Australias exports were in wool, food and oth...
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Current Account Deficit Foreign Debt
1,061 words... ings: (1) the failure of exports to grow as fast as imports in most years; (2) declines in our terms of trade; (3) declining competitiveness in many locally made products, and (4) the further growth in foreign debt. As mentioned above, the net income deficit is the main part of the current account deficit. In recent years this deficit has increased from $ 2. 8 billion in 198283 to $ 18. 6 billion in 19992000. Does a high level of foreign liability matter? The main consideration of whether or...
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Australian Economy Resource Allocation
897 wordsMicroeconomic reform in Australia Write an essay on Microeconomic reform in Australia including discussion on: The meaning of the term Microeconomic reform. Examples of recent microeconomic reform Reasons for microeconomic reform Possible effects of microeconomic reform in the Australian economy. Microeconomic reforms (MER) are the actions to reform particular product and factor markets with the aim of raising the economy s long term growth rate and increasing its flexibility. It also refers to ...
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Laissez Faire Utility Maximization
3,408 wordsIn recent decades, the various economies of the world have seen a fundamental shift away from Keynesian economics towards neo-classical and liberal economics. The consequence of this has been the re-emergence of a market oriented laissez-faire economic doctrine, which despises government and anything, which may restrict the supremacy of the market. The idea that the private sector is the real source of economic growth and hence that there is the need to trim down the? inefficient? public sector ...
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Real Interest Rates Imported Goods
1,170 wordsWhat is an exchange rate? What factors determine the exchange rate for the Australian dollar? An exchange rate is the ratio at which a countrys currency exchanges for the currency of another country. Exchange rates are typically expressed as the foreign currency equivalent of one unit of domestic currency. The exchange rate between Australia and the United States for example was $A 1. 00 = $US 0. , (as of 2. 12. 99). The exchange rate is determined by the demand for, and supply of, that currency...
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