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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
US and China make up __% of AUs foreign investment.
30%
26
Australia adopted a floating XR in ___
1983
27
Historically from ___-___ AUD averaged:
1993-2014 | $US0.77
28
XR reached an all-time high of ___ in ___.
$US1.10 in 2011.
29
XR reached an all-time low of ___ in ___.
$US0.48 in 2001.
30
At the turn of the century Aus XR was below:
$US0.60
31
After the mining boom commodity prices skyrocketed from ___ to ___ from ___ to ___. according to the _____.
40-135 2003-2011 RBA price index
32
Percentage of Aus X to China tripled from ___ to ___ in ___-___.
8%-24.3% | 2000-2010
33
From __ to ___TOT doubled from approximately ___ to ___.
2000-2010 | 60-120
34
After the GFC in 2008, Aus XR temporarily plummeted from $US___ - $US0___by ____.
0.96-0.64 | Jan,2009
35
During the GFC the cash rate of the US and the Eu dropped to ___ and ___ respectively.
0&1%
36
AUs cash rate remained above ___ during GFC.
3%
37
Aus has had a AAA _____ since ___.
credit rating since 2003.
38
Direct and portfolio I into Aus increased from ___ to ____ in ____ to ____.
$1.45trillion - $2.1trillion | 2005-2006 to 2010-2011.
39
Aus assets from superannuation totaled to ____ in the __________.
$3.0 trillion | Last quarter of 2020
40
What was Australia's household-saving ratio before the beginning of 2020
Below 5%
41
I/r in Aus dropped _ times from ___ in ____ to ___ in _____
6 | 1.5% in May 2019 - 0.1% in Nov 2020
42
US cash rate is currently __ from ___ in ___.
0% from 2.5% in 2019
43
2020 CA position
35.8b surplus
44
China tariffs on wine in ____
Nov 2020 - 107% up t0 212%
45
China barley tariffs in ___
80% - May 2020
46
Short term debt decline from ___% - ___% from ___ - ____
15% - 5% | 2012-Current
47
Long term debt __% GDP in -___ to _-% in
40% - 55% | 2013-2020
48
Superannuation originating in ___ - _% gross wage employer contribution
1983 | 9%
49
SGC has risen to ___ and is expected to rise to
9.5% | 12%
50
The US-China trade war began in ___
2018
51
Initially, US imposed __% and __% tariffs on ___ and ___ respectively
10% and 25% | aluminium and steel
52
Harley Davidson and GM suffered higher input costs of $_____ and $_____ respectively resulting in a loss of ____ jobs predominantly in the motor vehicle industry.
45 mil 1 bil 200,000 jobs
53
Over $___ Chinese goods and services are tariffed and ____ of US goods and services.
$250b | $100b
54
EU'S CAP accounts for appox. ___% of farmer Y and makes up ___% of EUs total spending.
19% | 40%
55
Rural services have decreased from __% - ___% from 1990-2020.
23%-10%
56
Aus has a trade deficit of ___ with the EU.
$29b
57
Aus agricultural X to EU makes up __% of total agricultural X.
7%
58
Quota tariffs from Japan and. the US on Aus beef X amount to __% and __% respectively.
38.5% and 17.6% respectively.
59
___ of beef X go to Japan and US.
2/3
60
WTO statement that over the next 5 years, quota expected to reduce GWP by __%.
0.2%
61
According to OECD, the US-China trade war led to a ___ decline in GWP in 2020.
0.7%
62
ChaFTA was formed in ___
2015
63
Currently ___% of Aus X to China are now tariff-free which is expected to reduce to ___% in the next __ years.
93% reduce to 95% 10 years
64
AANZFTA entered into force in Aus in ___ ___ and comprises of __ countries.
Jan 2010 | 12 countries
65
AANZFTA Aims to eliminate at least __% of all tariffs.
90%
66
Aus has a total of __ FTA's
15
67
What was Australia's S-I gap from 2000-2008?
Hovered from -2%-5%
68
Average tariff levels in Aus from 1994-1995 to 2018
9% - 0.9%
69
KAFTA Korea-Australia formed in ___ aims to reduce tariff-free levels from ___ - ___ in the next __ years.
2014 84%-99% 20 years
70
Since KAFTA, two way trade between Aus and Korea has increased by __
40%

Economics (4 decks)

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