The Effects of Economic Growth and Recent Trends (HSC SSCE Economics): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Inflation target for sustainable growth rate
Inflation target for sustainable growth rate
2-3%
Technical definition of recession
Technical definition of recession
Two consecutive quarters of negative economic growth
Australia's continuous growth period (years)
Australia's continuous growth period (years)
28 years (1991-92 to 2019-20)
Balance of payments constraint
Balance of payments constraint
Policymakers slow growth to improve external stability
Business cycle
Business cycle
Fluctuations in general level of economic activity
The three Ps for long-term growth
The three Ps for long-term growth
Productivity, participation, population
Pre-emptive monetary policy
Pre-emptive monetary policy
Interest rates adjusted anticipating growth/inflation changes
Australia's terms of trade peak year
Australia's terms of trade peak year
2011 (140-year high)
Australia's sustainable growth rate (Treasury)
Australia's sustainable growth rate (Treasury)
Around 2.5% of GDP
Key commodities in Australia's mining boom
Key commodities in Australia's mining boom
Iron ore, coal, natural gas