Who explained micro and macro economics
Who explained micro and macro economics?
Expert
Paul Samuelson ‘mathematized’ both micro and macro economics.
Balance of payments (BOP) always balances. Describe it. Answer: Balance of payments is for all time balanced. The negative balance on current account is equated wit
Flexible (or floating) exchange rate system: This is a system in which exchange rate is found out by forces of demand and supply of the foreign currencies concerned in the foreign exchange market. There is no official interference in the foreign excha
‘How is the equilibrium £:€ exchange rate presently determined? When UK was aiming to adopt the euro in the next to future we would be predicted to ‘shadow’ the euro for a while (the £:€ exchange rate would change merely among v
Question 1 Household Tools Co. is a manufacturer of microwave ovens. The manufacturer wants to increase the shelf life of their products. Past records indicate that the average shelf life of their microwave ovens is 240 days. After a new line of microwave ovens has been d
Why foreign currency or exchange is required? Answer: a) To buy services and goods from other countries. b) To send a gift abroad. c) To buy financial assets in a specific country and d) To contem
The U.S. economy is an instance of a system characterized by: (1) Mixture of different aspects of various economic systems. (2) Strictly decentralized the decision making process. (3) Centralized ownership of resources. (4) Political decisions regarding all allocative
When Balance of payment of a country is Rs (-) 100 crores and total payment are Rs 500 crores. Determine its total receipts.
what are the key callenges to indian economic development
‘The country has a floating exchange rate and its inflation rate is much higher than its trading partners. Why we would suppose the country’s exchange rate to deflate?’
Assume that many people are willing and capable to pay greater than production costs for certain goods however pervasive shortages exist. International agreements or domestic laws and policy are most likely key factors if we consider sustained scarcities in ma
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