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Problem:
Describe whether, the given statements (a-f) are True, False or Uncertain. Briefly justify our answer. Questions (g) - (h) show all your calculations. No marks will be allocated if you do not justify our answer.
(a) The flow of national income into domestic expenditure will be reduced by an increased savings.
(b) The Philips Curve shows the relationship between the rate of inflation and the nominal rate of interest.
(c) According to Purchasing Power Parity Theory, the comparative advantage of the two countries in terms of trade determines the rate of exchange between two countries.
(d) The LM schedule is always downward sloping.
(e) A reduction in the cash reserve ratio of the commercial banks, other things remaining unchanged would increase the value of the credit multiplier.
(f) A country imports only one commodity. After a devaluation of its currency by 10% its import falls from 50 million tonnes to 45 million tonnes. The elasticity of demand for imports is therefore equal to one.
(g) The table shows the price indices and weights for the three commodity groups that are included in the calculation of a country's cost of living index. The cost of living has increased by how much since the base year?
Find the annual (yearly) real and nominal GDP numbers for Turkey from TCMB for the recent past. Use the EVDS system and TUIK data. Describe the source and definition of the data us
Composition and Direction of Trade: The impact of trade reforms can be observed from the changing structure of India's foreign trade in terms of diversity of production
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what effect would a rise in the velocity of money have on output, employment and price level?
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Which of the following is assumed in constructing a typical production possibilities curve? a. the economy is engaging in international trade. b. production technology is fix
Macroeconomic policy Macroeconomic policy trade-offs are likely along the short-run Phillips curve however are not maintainable in the long run. In the short run a government
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Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations. The price of input A decreases.
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