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Exchange Rate Policy:
LERMS, a dual exchange rate system, was introduced in the Budget for 1992-93. Under this system, 40 per cent of foreign exchange earnings were to be surrendered at the official exchange rate. Remaining 60 per cent were converted at a market-determined rate.
- Budget for 1993-94 introduced UERS which makes rupee convertible at unified market determined rate of exchange. All payments and receipts of foreign exchange to be converted in rupees at market-determined rate of exchange.
- Budget for 1994-95 introduced full convertibility on current account that makes many trade transactions relatively more free of controls.
- Import restrictions on capital goods, raw materials and components virtually eliminated. Thus, excess import demand will be reflected in a higher market exchange rate and self-correcting mechanism will operate to keep trade deficit in check.
When is tax to society cause a deadweight loss? Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax A tax causes a deadweight loss to society, since les
description of slutskian approach
1. Let's get some practice plotting budget constraints. On the graph below, plot the budget constraints when: a. (Use Black): P x = 57,P y = 18, and M = 342. b. (Use Blue):
Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in nominal aggregate demand. Simply, is can be view
How has the haberler''s theory of opportunity cost an improvement over the classical theory of trade
How equilibrium is achieved under monopoly
What is the difference between houehold and consumers?
Suppose that two wage regressions are estimated for native and white workers: Wn = 5.0 + 0.10S Ww = 6.0 + 0.14S Pick a reasonable average level of schooling for white and Native wo
Q. Define Migration in Microeconomics? Migration:It's the movement of human beings from one country or region to another. Sometimes migration is motivated by economic factors (
Equity: The proportion of a company's total assets which are "owned" outright by the company's owners. A company's equity is equivalent to its value less its debt owed to bankers,
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