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March 28, 2024, 10:14:09 pm

Author Topic: Slowing Chinese economy on Aus living standards  (Read 560 times)  Share 

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hdxx

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Slowing Chinese economy on Aus living standards
« on: October 13, 2018, 02:05:02 pm »
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The Chinese economy has reached the point we hoped it wouldn’t – growth has slowed and their demand for our mineral exports has decreased.’

Outline one possible effect of the slowing of the Chinese economy on Australian living standards. 2 marks

Can anyone assist in the affect this will have on living standards?
Thanks

Chelsea f.c.

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Re: Slowing Chinese economy on Aus living standards
« Reply #1 on: October 13, 2018, 02:46:40 pm »
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Australia exports minerals to China so reduced demand for minerals will decrease exports and hence output where living standards is GDP per capita so a reduction in output will reduce living standards... maybe try to understand through looking at output equation... good luck for exam =)
Bachelor of Commerce (Honours) Finance - UoM - 2019
Bachelor of Commerce - Economics and Finance - UoM - 2015 - 2018
Diploma in Mathematical Sciences - Statistics and Stochastic Processes - UoM - 2015 - 2018