Labour Markets
The price of labour
What is wages?
The finance sector
What is the name of the sector that consists of financial institutions who engage in borrowing and lending money?
Maintenance of international financial stability
What is the role of the International Monetary Fund (IMF)?
The strategy announced in 2013 to connect Asia with Africa and Europe via trade networks.
What is the Belt and Road Initiative?
To encourage specialisation in which it has a comparative advantage.
Why would a country remove protectionist policies?
66.8%
What is Australia's current labour participation rate?
What is the factor income return for providing capital?
To promote sustainable growth and employment for member countries
What is the role of the Organisation for Economic Co-operation and Development (OECD)?
Made in China 2025
MAFTA
What is the name of the FTA between Australia and Malaysia?
Those people who are employed plus those people actively looking for work
What is the labour force?
Contraction in economic activity
What will occur when leakages exceed injections?
The global organisation established in 2001.
What is the World Trade Organisation (WTO)?
Deng Xiaoping
Who is credited for starting China's path of 'reform and opening'?
'Sunrise industry'
What is the name for an infant industry that is growing relatively fast with high productivity?
People who experience regular or permanent periods of unemployment or long-term unemployment.
What is hard-core unemployment?
Increase in (G)
How might the Government respond to a reduction in economic activity?
Developing economy
What type of economy typically experiences both a low level of growth and development?
Shenzhen
Which SEZ is known as the 'Silicon Valley' of China due to its high concentration of tech companies?
Decrease in protection
What is the outcome if a country increases the amount on an import quota?
A set of minimum wages and working conditions for employees specific to their industry
What is a Modern Award?
A closed economy
What kind of economy has no overseas sector and therefore no international trade?
1948
When was the General Agreement on Tariffs and Trade (GATT) first established?
0.768
What is China's current HDI index?
The Doha Round
What is the name of the most recent round of trade negotiations at the WTO in 2001?