Why study economics in information age

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1Why study Economics in Information Age? What is the difference between Macroeconomics and Microeconomics? Give examles to substantiate your answer.2-Why does the demand curve slope down? Why does the supply curve slope up? Give examples.

3-What is GDP? How it is different from GNP? Does information technology help in assessing the GDP more accurately? How help it is for Economist in forecasting for future?

4-How do individuals of one nation trade money with individuals of another nation?

5- List the goods you believe are price inelastic and price elastic and explain why.

6- How do changes in exchange rates affect international trade? How do nations record their transactions with the rest of the world?

7-Define foreign exchange and the foreign exchange market. PROVIDE EXAMPLES. Distinguish between appreciation and depreciation of a currency. PROVIDE EXAMPLES

Reference no: EM13839015

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