Define foreign exchange
Define foreign exchange: It is the currency other than domestic currency.
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.
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
Describe the two sources of supply of foreign exchange: The two sources of supply of foreign exchange are: Exports and foreign tourism.
Who was responsible for setting the tone for following generations of economists?
Explain the Economic environment in Australia and Internationally and their factors which affect them?
THE AREA BETWEEN THE LORENZ CURVE OF A COUNTRY AND THE DIAGONAL OF PERFECT EQUALITY REPRESENT
I have a problem in economics on Economic Growth. Please help me in the following question. Technological progress and resource reduction tend to join and hence a society’s curve of production possibilities experiences: (1) Expanded capacity. (2
Name the accounts in the balance of payments (BOP)? Answer: a. Current account: It exhibits the imports and exports of services and goods and transfer payments.b. Capital Account: It exhibits the assets and li
Assume that El Salvador can generate coffee at lower opportunity costs than Spain, whereas Spain can generate olive oil at lower opportunity costs than El Salvador. The citizens of both countries can potentially profit from international trade since of the efficiency
In which account of balance of payment tourism services to tourist are involved? Answer: Tourism services to tourist are comprised in current account of Balance of
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