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18 Cards in this Set
- Front
- Back
Comparison rate
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The over all loan rate interest calculate after charges/fees are added to the advertised rate
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Foreign debt
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Amount of money a country has borrowed from overseas
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Depreciation
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Downward movement of Australian dollar in comparison to another currency
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Foreign exchange market
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Determines the piece of one currency to another
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Foreign exchange rate
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Ratio of one currency to another
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Investment
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Purchase of new plant and equipment
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Inflation
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General rise in prices, causing money to lose its value
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Interest rate
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The price of money
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Recession
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A mild contraction in the level of economic activity ➪ reduced spending & slow economic growth
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Subrime loan
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Loans to borrowers who have poor credit rating
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Term
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The amount of time given to repay the loan
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Purchasing power
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The quantity of goods/services that may be bought with a certain amount of money
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Real income
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What income will purchase after allowing for effects of inflation
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Business cycle
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Rises & falls in economic activity that the economy goes through over time
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Mixed economy
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Economic system where individuals/businesses make their own decision with small government involvement
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Default
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The inability to repay borrowed money
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Balanced trade
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Difference between a nations value of exports and imports
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Appreciation
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An upward movement in the Australian economy against another country
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