ECON 113 Study Guide - Final Guide: Chiko Roll, Cengage Learning, Liquefied Natural Gas
16 Mar 2018
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The article notes that the gold rush that was during the late 19th century led to the enrichment of the charters towers resulting in the opening of their own stock exchange (economist, 2017). It was perceived that it could last forever. However, its end was not a national bust as the multi-pillared economy of australia still stands. During its peak, the investment in mining accounted for about 10 % of the gdp (economist, 2017). The terms of trade for australia spiked as the economy endeavored to meet the demand for china for the coals as well as the iron ore. In comparison to the exports, the imports had reached a level that was not precedent since the 1850"s gold rush (economist, 2017). Similar to the scrambles that were evident in the 19th century, the demand for china resulted in a prosperity that was sudden (economist, 2017). It led to the inflation of the housing market.
