Tag: Debt
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Australian Wool Industry Crisis 1990-91
Wool has been an important product to the Australian economy since 1797. “In 1797, John Macarthur imported a small flock of merino sheep (3 rams and 5 ewes) from the Cape of Good Hope with the intention of producing fine fleeced sheep at ‘Elizabeth Farm’, his property in Parramatta.” (State Library of…
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Inflation
The inflation rate is a measure of the increase in asset prices, measuring the percentage change in the average price level from the previous year. Where a positive inflation rate means rising prices, a negative inflation rate means falling prices, and a declining positive inflation rate means rising prices at a…