Describe and briefly comment on THREE of the following topics:
In each case you should define the term and outline significant issues.
(Use diagrams, figures, equations where necessary).
1. The Balance of Payments: Various components, their significance and policy implications.
2. The Hume’s Price Specie Flow Mechanism
3. The Gold Standard System: Significance and Policy Implications
4. Spot and Forward Foreign Exchange rates
5. Trade and Economic Growth
6. Global competition and International Business