Australia has avoided the 'resource curse' of being a mineral exporter by: a) restricting refugee intakes b) having a centralized wage-fixing regime c) having a freely floating currency together with very flexible product and labor markets d) expelling witches from the continent
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It refers to the negative impact that a country's abundance of natural resources, such as minerals or oil, can have on its economy and society. This can include issues such as corruption, inequality, and over-reliance on a single industry. Now, let's look at the Show more…
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