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18 Cards in this Set

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