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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.
#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
can average labor productivity fall even though total output is rising
Q. Explain about Counter-Cyclical Policies? Counter-Cyclical Policies:Governments may take many different actions to offset ongoing booms and busts of private-sector economy. T
The total demand consists of: 1. New owner demand and 2.A replacement demand The replacement demand tends to grow with the in the total stock with the consumers. Once a pe
define stagflation
Q. What is Gini Coefficient? Gini Coefficient: A statistical measure of inequality. A Gini score of 0 signifies perfect equality (in which each individual receives the same inc
Define the Production Possibilities Curve and explain the basic economics concepts using the PPC. Explain the factors tht shift the PPC outwards
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
what is the indirect utility/
what is the theory of second best?prove the theorm with the help of diagram?
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