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International economic relations also vary, in large measure, on monetary issues. You are unlikely to accept the Turkish Lire in payment for your wages in this country, easily because you can't simply use that money to buy anything. You need U.S. dollars in payment for your services, because you can simply spend the dollar. Countries act the same way you do. There are currencies that virtually everybody accepts as payment, and those widely accepted currencies are known as hard currency.
Ben prefers the mixed consumption basket x+y to either 2x alone or 2y alone. But as between the latter baskets, he would rather have the 2x. Do the fact stated indicates the axiom
what are the advantages of monopsony?
BUREAUCRACY: M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "off
causes of abnormal supply curve
Population census: A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to
Circular Flow of Income: The diagram shows Real Flow (goods and services) and Monetary Flow (Income and expenditure). The bottom pair of arrows depicts the goods market.
what is price elasticity of demand ? write briefly with explaining it''s type.
Economics- Definition Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people. Microeconomics h
Qustions: You are the sales manager at SoftSystem, a dominant firm that produces operating system. The new operating system, Doors XR, has been newly developed. Its demand is e
compare the concept of MRTS with the MRS and discuss the similarities and difference between them?
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