Define balance of payment or BOP
Balance of payment: It is a systematic record of each and every economic transaction of a country with the rest of world in an accounting year.
Balance of payment Accounts: It is the systematic record of all economic transactions among the residents of a country and rest of the world in a specified period (1-year) of time.
Which transactions- autonomous or accommodating carry balance in BOP? Answer: Accommodating transactions carry balance in the BOP or balance of payment.
Flexible exchange rate: The rate of exchange in terms of other currencies is determined by market forces of demand-supply.
Who was 1970 Nobel Laureate in Economics?
Who explained micro and macro economics?
Autonomous or public investment: It is a type of investment that is not of profit motivated.
In simple circular flow model, the only entities which finally consume goods, own resources, pay taxes or bear the loads of inflation, experience joy, or suffer pain, are as: (i) corporations. (ii) Households. (iii) Government agencies. (iv) Business
‘The pound has enhanced today on the foreign exchange market’ is a general media comment whenever the pound sterling appreciates. When the pound appreciates is it always excellent news for business and the economy?’
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China is a huge manufacturer of technology of telephone devices. It has lately become a member of W.T.O. that means it can sell its products in other member countries such as India. Assume that it does export a big number of telephone instruments to India:
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