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Describe how exchange rate is expressed in some nation
In some nations, exchange rate is expressed using home currency as base currency. In UK for instance, Danish exchange rate would be expressed as 9.2 DKK/GBP. Hence, you have to invert exchange rate if you want to figure out how much one unit of a foreign currency costs in UK. This method is known as the indirect method of specifying exchange rate and notation is sometimes termed as British notation.
Explain the pre-emptive monetary policy Since 1992 UK monetary policy has been 'pre-emptive'. In pre-emptive monetary policy authorities announce that they are prepared to rai
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subjective questions on national income determination
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Need answers for the questions (Chapters 10, 11 & 12) Please see attached questions. Thanks!
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