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INTERNATIONAL FINANCIAL INSTITUTIONS
In July 1944, a conference took place at Bretton Woods in New Hampshire to try to establish the pattern of post-war international monetary transactions. The aim was to try to achieve free convertibility, improve international liquidity and avoid the economic nationalism which had characterized the inter war period.
The result was that two institutions were established: in 1946, the International Bank for Reconstruction and Development (IBRD); and in 1947 the International Monetary Fund.
The institutional intervention theories Collective bargaining provides an example of what is sometimes called bi- lateral monopoly; the trade union being the monopolist suppli
Open Market Operations The Central Bank holds government securities. It can sell some of these, or buy more, on the open market, buying or selling through a stock exchange or
Q. Availability of Substitutes - Determinants of Demand? One of the most important determinants of elasticity of demand for a commodity is availability of its substitutes. Clos
Equilibrium and Disequilibrium in the Balance of Payments If on the current account , the value of exports is equal to the value of imports, the balance of payments is said t
Advantages of Product Differentiation We can distinguish between those advantages for the firm itself and those for the consumer: a. For the firm. i.
SHORT RUN OUTPUT AND PRICE In monopolistic competition, it's the product differentiation that permits its price without losing sales. Due to brand loyalty consumers will c
Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..
Using the National Output for Calculating National Income A final method which is more direct is the "output method" or the value added approach . This involves adding up
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
a. Explain why the demand for a particular brand is more elastic than the demand for all cigarettes. If Lucky Strike raised its price by 1% in 1918, was the price elast
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