Free trade and protection
How many Australian jobs out of four are connected to trade?
1
World economic forum ranked global risk by severity. What are these?
Environmental, societal and geopolitical
True or false? US tariff rates are at their highest since the 1930s.
True
Trump
What is the current unemployment rate
4.32%
What are Australia's top imports?
Personal travel, petroleum, motor vehicles and professional services
How many goals are there in the UN 2030 sustainable development goals?
17
Monetary policy: the cash rate leads to the interest rate, which impacts….name 3
Savings and investment channels, wealth channel, inflation, balance sheet and cash flow channel, exchange rate channel
There is less protection policies imposed on Australian from the US. Suggest how this has been implemented in terms of tariffs
relatively light treatments compared to America's other imports 10%
What is China's GDP growth
5.2%
Int terms of FDI, what does Australia rank in the world?
15
What does the environmental protection and biodiversity act aim to achieve?
Protection of national and cultural values including threatened species, world heritage sites and important ecosystems
Households and businesses in the US are unsure sustainability of the economy in the future. Why is this?
Global uncertainty
The US has recently placed tariffs on large amounts of goods and services. Most countries have not retaliated against this, suggest on of two reasons why this may be.
1. The US dominated the world defensively
2. The US dollar is critical within the economy
Between what years did Australia have 28 years of consecutive economic growth
1991-2019
In terms of FDI, which economies are the biggest investors into Australia?
USA, UK and Belgium
What was the last year that our resource consumption matched the earth's ability to reproduce naturally and sustainably?
1971
To what extent do US tariffs impact Australian exports?
Small as it only makes up a small proportion of our exports.
What happens if the WTO rules are broken
Talks are facilitated between countries
Dutch famously went into financial ruin after a period of extreme speculation in tulip bulbs, where they were trading homes for flower bulbs in what century
17th
What are Australia's top exports?
Iron ore, coal, natural gas, education and gold
What are market based policies economies can implement to achieve environmental sustainability?
taxes on the production of harmful goods, sustainability reporting, limiting the production of harmful environmental activities
The Chinese government is using fiscal policy to achieve what percentage of economic growth?
5%
4% of our exports to the US, how many billion dollars is this
25
What year did gold replace wool as Australia's most valuable export
anywhere in the 1870s