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Explain how a floating exchange rate works and the variables which affect the rate.
Define a floating exchange rate as the price of a currency (in terms of another or basket of currencies) being determined by market forces, i.e. supply and demand of the currency. Using two S/D diagrams illustrate and exemplify such market forces - all the while clearly referring to the diagram
What is a natural monopoly Define natural monopoly as a situation where the advantages of scale a fixed costs are so high that it is impossible to fully exploit them. MC and AC
hoe does the knowledge of price elasticity of demand important to the government
International Monetary Fund: International Monetary Fund (IMF) is one of the two institutions that were established as a result of the Brettonwoods Conference in 1944, the oth
I have an online test which needs to be done on 60 min, would this website be able to take it with me? like to be available for 60 min answering the multiple choice questions with
The idea for the national accounts came during the 1930s depression in the U.S., when decision-makers wanted to get a better sense of by how much economic production had fallen. Si
problem solving
Estimating and Predicting Cost * Estimates of future costs can be obtained from a cost function, which relates cost of production to level of output and other variables which t
Indirect Utility Functions: Let qi denotes commodity i and pi is the price of that commodity. Let y denotes money income of the consumer. Suppose vi = pi/y. The budget constra
What is checkable bank deposits?
Accounting profit equals revenue minus all explicit costs, and economic. One profit is defined it should not be difficult to measure the profit of a firm for a given period. But tw
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