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Explain how a floating exchange rate works and the variables which affect the rate.
Define a floating exchange rate as the price of a currency (in terms of another or basket of currencies) being determined by market forces, i.e. supply and demand of the currency. Using two S/D diagrams illustrate and exemplify such market forces - all the while clearly referring to the diagram
WHAT IA GMP
why is the concept of elasticity crucial to the study of economics?
Consumer Preferences Indifference curves represent all the combinations of market baskets which provide the same level of contentment to the person. Consumer Preferences
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Explain the term economic efficiency? Answer: Economic Efficiency means full utilization of all available resources in economy i.e. to produce the needed amount of goods and
Name the five types of capital. The five types of capital are: natural capital, manufactured capital, human capital, social capital and financial capital.
Female-headed households: The high incidence of unemployment among the educated in general and women in a particular reflects that the pace of creation of diversified employme
a description of engineering production function
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