State the two sources of demand of foreign exchange
State the two sources of demand of foreign exchange: Import of services and goods and to acquire education in abroad.
Define foreign exchange: It is the currency other than domestic currency.
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.
Describe the two sources of supply of foreign exchange: The two sources of supply of foreign exchange are: Exports and foreign tourism.
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
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
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.
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
The balance of payment account (BOP) account is the statement of each and every economic transaction which takes place between a nation and rest of the world throughout a particular period. BOP account generally comprises of (a) Current account and (b
Describe which of the following is a visible and which is invisible item in Balance of payments. (a) Export of jute product (b) Software services exports. Answer: Discover Q & A Leading Solution Library Avail More Than 1449099 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1932853 Asked 3,689 Active Tutors 1449099 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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