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Economics > Essay Stats > Flashcards

Essay Stats Flashcards

1
Q

First point

A

Current high commodity prices - (Brazilian Mine Disaster Feb 2019 + COVID). leading to increase in iron ore prices

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2
Q

Second point

A

China strong recovery from COVID - increase demand for commodity prices.

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3
Q

Third point

A

I/r differential

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4
Q

Fourth point

A

US-China trade war

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5
Q

Fifth point

A

Mining boom - 2003

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6
Q

Sixth point

A

I/r rate differential post GFC + AAA credit rating

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7
Q

Following the onset of the pandemic, the AUD fell to a ___ year low from US$__-US$__ from ___ - ____

A

17
US$0.70-$US0.55
Dec 2019 - March 2020

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8
Q

The AUD has since appreciated to where it is now at:

A

US$0.78

May vary

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9
Q

The Brazilian mine disaster occurred in:

A

January, 2019

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10
Q

From the mining disaster brazil shut of ___% of their iron ore X by ____

A

More than 50

April, 2019

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11
Q

Following the COVID pandemic, Brazils exports fell __% in ____ .

A

40

April 2020

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12
Q

Due to increased iron ore prices, Aus TOT is now at ____ for the first time since ____.

A

Over 100

2012

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13
Q

Iron ore prices reached a __-year high of $___ per tonne in ____.

A

12
200
Dec,2020.

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14
Q

Aus iron ore X currently account for ___ of total X.

A

36%

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15
Q

China accounts for ___% of Aus X in 2019.

A

36.1%

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16
Q

China provides ___% of Aus M in 2019.

A

24.5%

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17
Q

Aus X to China dropped by ___% in ___.

A

Over 20%

First quarter of 2020.

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18
Q

BOGS recorded its largest surplus ever of ___ in 2019 -2020.

A

77.4 billion

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19
Q

Australia’s reached a record high NPY deficit of ___ in ____

A

$60.9 billion.

2018-2019

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20
Q

Australia’s NPY deficit recently reduced to ____ in ____.

A

$40.2b

2019-2020.

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21
Q

From the trade war, tariffs were placed on ___ worth of Chinese goods and services.

A

US$250b.

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22
Q

____ Chinese workers faced structural UE from these tariffs.

A

3.5 million.

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23
Q

From 2018-start of 2020 Chinese economic growth reduced from:

A

7%-6%.

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24
Q

The trade war is expected to result in $___ drop in eco growth in Australia from 2018-2023 and the loss of ___ jobs.

A

$36b

60,000 jobs

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25
Q

US and China make up __% of AUs foreign investment.

A

30%

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26
Q

Australia adopted a floating XR in ___

A

1983

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27
Q

Historically from ___-___ AUD averaged:

A

1993-2014

$US0.77

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28
Q

XR reached an all-time high of ___ in ___.

A

$US1.10 in 2011.

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29
Q

XR reached an all-time low of ___ in ___.

A

$US0.48 in 2001.

30
Q

At the turn of the century Aus XR was below:

A

$US0.60

31
Q

After the mining boom commodity prices skyrocketed from ___ to ___ from ___ to ___. according to the _____.

A

40-135
2003-2011
RBA price index

32
Q

Percentage of Aus X to China tripled from ___ to ___ in ___-___.

A

8%-24.3%

2000-2010

33
Q

From __ to ___TOT doubled from approximately ___ to ___.

A

2000-2010

60-120

34
Q

After the GFC in 2008, Aus XR temporarily plummeted from $US___ - $US0___by ____.

A

0.96-0.64

Jan,2009

35
Q

During the GFC the cash rate of the US and the Eu dropped to ___ and ___ respectively.

A

0&1%

36
Q

AUs cash rate remained above ___ during GFC.

A

3%

37
Q

Aus has had a AAA _____ since ___.

A

credit rating since 2003.

38
Q

Direct and portfolio I into Aus increased from ___ to ____ in ____ to ____.

A

$1.45trillion - $2.1trillion

2005-2006 to 2010-2011.

39
Q

Aus assets from superannuation totaled to ____ in the __________.

A

$3.0 trillion

Last quarter of 2020

40
Q

What was Australia’s household-saving ratio before the beginning of 2020

A

Below 5%

41
Q

I/r in Aus dropped _ times from ___ in ____ to ___ in _____

A

6

1.5% in May 2019 - 0.1% in Nov 2020

42
Q

US cash rate is currently __ from ___ in ___.

A

0% from 2.5% in 2019

43
Q

2020 CA position

A

35.8b surplus

44
Q

China tariffs on wine in ____

A

Nov 2020 - 107% up t0 212%

45
Q

China barley tariffs in ___

A

80% - May 2020

46
Q

Short term debt decline from ___% - ___% from ___ - ____

A

15% - 5%

2012-Current

47
Q

Long term debt __% GDP in -___ to _-% in

A

40% - 55%

2013-2020

48
Q

Superannuation originating in ___ - _% gross wage employer contribution

A

1983

9%

49
Q

SGC has risen to ___ and is expected to rise to

A

9.5%

12%

50
Q

The US-China trade war began in ___

A

2018

51
Q

Initially, US imposed __% and __% tariffs on ___ and ___ respectively

A

10% and 25%

aluminium and steel

52
Q

Harley Davidson and GM suffered higher input costs of $_____ and $_____ respectively resulting in a loss of ____ jobs predominantly in the motor vehicle industry.

A

45 mil
1 bil
200,000 jobs

53
Q

Over $___ Chinese goods and services are tariffed and ____ of US goods and services.

A

$250b

$100b

54
Q

EU’S CAP accounts for appox. ___% of farmer Y and makes up ___% of EUs total spending.

A

19%

40%

55
Q

Rural services have decreased from __% - ___% from 1990-2020.

A

23%-10%

56
Q

Aus has a trade deficit of ___ with the EU.

A

$29b

57
Q

Aus agricultural X to EU makes up __% of total agricultural X.

A

7%

58
Q

Quota tariffs from Japan and. the US on Aus beef X amount to __% and __% respectively.

A

38.5% and 17.6% respectively.

59
Q

___ of beef X go to Japan and US.

A

2/3

60
Q

WTO statement that over the next 5 years, quota expected to reduce GWP by __%.

A

0.2%

61
Q

According to OECD, the US-China trade war led to a ___ decline in GWP in 2020.

A

0.7%

62
Q

ChaFTA was formed in ___

A

2015

63
Q

Currently ___% of Aus X to China are now tariff-free which is expected to reduce to ___% in the next __ years.

A

93%
reduce to 95%
10 years

64
Q

AANZFTA entered into force in Aus in ___ ___ and comprises of __ countries.

A

Jan 2010

12 countries

65
Q

AANZFTA Aims to eliminate at least __% of all tariffs.

A

90%

66
Q

Aus has a total of __ FTA’s

A

15

67
Q

What was Australia’s S-I gap from 2000-2008?

A

Hovered from -2%-5%

68
Q

Average tariff levels in Aus from 1994-1995 to 2018

A

9% - 0.9%

69
Q

KAFTA Korea-Australia formed in ___ aims to reduce tariff-free levels from ___ - ___ in the next __ years.

A

2014
84%-99%
20 years

70
Q

Since KAFTA, two way trade between Aus and Korea has increased by __

A

40%

Economics (4 decks)

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