Calculating exchange rate
10 US dollars are exchanged for 500 Indian rupees. Calculate the exchange rate for Indian currency? Answer: $1 = 500/10 = Rs.50, that is, $1 = Rs. 50
10 US dollars are exchanged for 500 Indian rupees. Calculate the exchange rate for Indian currency?
Answer: $1 = 500/10 = Rs.50, that is, $1 = Rs. 50
Describe Okun's law? Give an illustration of how it works.
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
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What is Supply schedule and how it is related to supply curve?
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