Setting tone for subsequent generations of economists
Who was responsible for setting the tone for following generations of economists?
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For setting the tone for following generations of economists, explained by Paul Samuelson.
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.
Fixed exchange rate: It is the rate of exchange which is fixed by the Government in an economy.
Induced investment: It is a type of investment that is of profit motive in nature.
Describe the meaning of deficit in BOP: Whenever autonomous foreign exchange payments surpass autonomous foreign exchange receipts, the difference is termed as balance of payments deficit.
I NEED TO UNDERSTAND MORE ABOUT International product life cycle
Define foreign exchange: It is the currency other than domestic currency.
Explain the Economic environment in Australia and Internationally and their factors which affect them?
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 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?’
If the Chinese economy could create all goods with fewer resources per unit than are needed in US, the citizens of China would: (i) Encompass a comparative advantage in the whole thing. (ii) Be self-sufficient since there would be no potential profits from trade. (iii
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