Explain Why Australia's Current Account Was in Deficit for Most

question 69

Essay

Explain why Australia's current account was in deficit for most of the 20th Century.

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Definitions:

Payment Fraud

Illegal transactions aimed at deceitfully obtaining money, goods, or services by manipulating payment processes.

Chargeback

A transaction reversal usually initiated by the cardholder's bank, intended to serve as a form of consumer protection from fraudulent activity.

Internet Fraud

Deceptive practices and scams perpetrated online, aiming to defraud victims through means like phishing, identity theft, and financial exploitation.

Identity Theft

The fraudulent acquisition and use of someone's private identifying information, usually for financial gain.