DP Economics Questionbank

Using a definition of the terms of trade, explain the terms of trade change in Australia from 2011 to 2015 (Figure 1).

Using information from the text/data and your knowledge of economics, discuss the possible effects of the fall in Australia’s terms of trade on the Australian economy.

Using your answers to part (g)(i), explain how the change in Buranda’s terms of trade may act as a barrier to economic development.

Calculate Buranda’s terms of trade index for 2008 and 2018.

Explain why “deteriorating terms of trade have resulted in a worsening of the current account” in South Sudan (paragraph [4]).