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dinara econ cards

QuestionAnswer
define exchange rate the price of one country’s currency in terms of another country’s currency
define foreign exchange market the market in which currencies of different countries are bought and sold
define foreign exchange the currency of another country that is needed to carry out international transactions
define the trade weighted index a ‘basket’ of currencies weighted according to their importance in trade flows with Australia.
define a floating exchange rate an exchange rate that is determined by demand and supply
what causes a depreciation? AUD demand decreases OR supply increases
what causes a appreciation? AUD demand increases OR supply decreases
what causes demand for AUD to increase? 1. more exports, 2. received income or investment (from overseas)
what causes supply for AUD to increase? 1. more imports, 2. paid income or investment (to overseas)
what happens to the exchange rate if inflation is high? people will buy imports = supply of AUD increases
what happens to the exchange rate if interest rates is high? demand for AUD increases, why? AU is more attractive to store savings or invest in
what happens to the exchange rate if terms of trade is high? demand for AUD increases, why? Exports have increased
how does depreciation affect consumers and producers? Imports are more expensive (consumers lose) Exports are cheaper to overseas (producers win)
how does appreciation affect consumers and producers? Imports are cheaper (consumers win) Exports are more expensive to overseas (producers lose)
how does depreciation affect the economy? Economic growth because of increased exports
how does appreciation affect the economy? Contraction effect because of decreased exports
Created by: efeosa
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