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Explain the Exchange rate system in western world
The most common exchange rate system in western world during previous century was the fixed exchange rate system. Up to 1930s, most currencies were pegged to price of gold (the gold standard). After 2nd World War a new system was created, so-called Bretton Woods system, where every currency in the system was pegged to US dollar (USD). After collapse of this system in 1970s, many currencies, for instance, USD, have been flexible.
if the price elasticity of demand is computed for two products, and product A measures .79 , and product B measures 1.6 , then ? a. product A is more price elastic than product
What is the different between price effect and sales effect? Both relate to Elasticity and Total Revenue: a. A price effect: After a price raise, all unit sold sells at a hi
A one-car taxi company receives an average of 18 calls per day. The receptionist takes down details of the requested journey and relays them to the driver by radio. Each passenger'
what is the meaning of the statement ''money is not merely a veil or wrapper''?
Q. Explain the labor market in the cross model? In cross model, both P and W are exogenous andconstant. Hence real wage is constant and it is not essentially equal to the equil
A) With asymmetric information, free markets may not lead to efficient outcomes because the market for a service or product may break down due to adverse selection. Explain what ad
Consider an economy characterized by the following Cobb-Douglas production function: Y=4K 1/4 L 3/4 Where K and L represent physical capitaland labor, respectively. Assume t
Which is better meausute of welfare?
mention and explain four factors that determine the volume of production.
occupation segregation by sex
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