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Q. It is claimed that L. Frank Baum's classic 1900 children's book, the Wonderful Wizard of Oz, is an allegorical rendition of the U.S. political struggle over gold. Discuss.
Answer: True In L. Frank Baum's classic 1900 children's book The Wonderful Wizard of Oz the name "oz" is a reference to an ounce (oz.) of gold as well as the yellow brick road represents the false promise of gold. The story symbolizes the struggle of farmers in the western United States who were heavily indebted.
Q. How did the international monetary system created at Bretton Woods in 1944 allow its members to reconcile their external commitments with their internal goals of full employment
Discuss the relationship between PPP and the Law of One Price. Answer: The law of one price is applies to individual commodities while Purchasing Power Parity applies to the g
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Q. A naïve implication of the DD - AA framework is that either fiscal or monetary policy can lead to full employment. Discuss why this view is naïve. Answer: 1. Inflation m
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