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Flashcards in Terms Of Trade Deck (8)
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1

How is ToT measured?

Ratio of exports to imports

2

How does ToT "worsen?"

Import increases by relatively larger proportion

3

When was the largest sustained boost to the ToT?

2001-12

4

What is the effect of an increase in ToT?

Require less to purchase a quantity of goods

5

What is the term for a fall in ToT?

Unfavourable

6

Commodity currency

A currency that largely depends on commodity prices

7

Dutch disease/two speed economy

One sector doing well, others are unchanged/deteriorate

8

When was the AUD floated?

1983