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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.
Supply-side policies Supply-side policies are intended to increase the economy's potential rate of output by increasing the supply of factor inputs, such as labour inputs and
Explain about the equilibrium in the labor market. Equilibrium into the Labor Market: All of firm will hire labor up to the point at that the value of the marginal product o
WAGE DETERMINATION, POLICY AND THEORIES Wages and salaries are rewards to labour as a factor of production of goods and services. In ordinary speech a distinction is frequent
In the country of Sleep-well, the inhabitants' main activity is... sleeping. Despite the loss of productivity that this entails, the country has a profuse and renowned production o
An optimum Population Countries are often described as under populated or overpopulated. From the economist's viewpoint these terms do not refer to the population density (i.
Cross Elasticity Cross elasticity of demand measures the degree of responsiveness of the quantity demanded of one good (B) to changes in the price of another good (A). It is
diagram of a perfect competition
BUSINESS CYCLES Meaning: The business cycle is the tendency for output and employment to fluctuate around their long-term trends. The figure below presents a stylised
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
what is traditional theory of cost/explain with suitable diagram
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