Australia's Current Account Deficit (HSC SSCE Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
ShowHide
Practise the questions
10 questions from this quiz
What is the primary aim of external stability as a government policy goal?
What is the primary aim of external stability as a government policy goal?
To promote sustainable external accounts
What range did Australia's CAD typically fluctuate between from the 1980s onwards?
What range did Australia's CAD typically fluctuate between from the 1980s onwards?
3% and 6% of GDP
When did Australia first record current account surpluses in nearly half a century?
When did Australia first record current account surpluses in nearly half a century?
Starting in 2019-20
What does 'Dutch disease' refer to in the context of Australia's economy?
What does 'Dutch disease' refer to in the context of Australia's economy?
Commodity boom strengthens currency hurting exports
What proportion of Australia's export revenue comes from minerals and energy?
What proportion of Australia's export revenue comes from minerals and energy?
Two-thirds
What does the terms of trade measure?
What does the terms of trade measure?
Ratio of export prices to import prices
How many main explanations do economists offer for Australia's persistent CAD?
How many main explanations do economists offer for Australia's persistent CAD?
Three explanations
What is the core argument of the Pitchford thesis?
What is the core argument of the Pitchford thesis?
Private sector CAD without distortions OK
Which is NOT a consequence of unsustainable external imbalances?
Which is NOT a consequence of unsustainable external imbalances?
Increased government spending capacity
What does the savings-investment gap explanation view the CAD as resulting from?
What does the savings-investment gap explanation view the CAD as resulting from?
Imbalance between domestic investment & savings