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Determine the Economic functions of money There are three functions of economics of money - A medium of exchange. - A unit of account - Store of value.
How does Opportunity cost and production possibilities relate?
MONEY AND CREDIT In any modern economy, the quantity of money, aggregate volume of credit and its sectoral composition are important variables which exert significant influenc
what is business cycle
Question 1: Discuss why living standards are higher in some countries than others. Question 2: (a) How is inflation measured? (b) What are the causes and consequence
A recent study of long distance phone calls made from WPU, showed that the length of the calls follows the normal probability distribution with a mean of 3.2 minutes per call and a
What are the requirements for something to be considered money? Why does the dollar have value?
Q. Define do you mean by GDP growth? By (nominal) GDP-growth we mean the percentage change in (nominal) GDP over a specific period of time. Real GDP growth is defined as percen
The circular flow of income in a simple economy where all income is consumed The operation of forces in an economy can be expressed in the form of a circular flow of incomes a
Illustrate the policy - Beggar my neighbour 'Beggar my neighbour' policies are government policies which attempt to gain a competitive benefit at the expense of other countries
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