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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?
Take a look at the sugar market: US demand: Q=60-2/3 P US domestic supply: Q=P Also, the US could import any quantity from world producers at (US$) 10/cents per lb a) In a sc
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In order to observe the correlations between each variable, the most effective method to use is Vector Autoregression (VAR). VAR estimation uses a system of simultaneous equations
The rise in the price of oil can be traced to a easy factor, but there are various other contributing factors. The easiest explanation is that the demand for oil is greater than
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what do we mean when we say export are exogenous and import are endogeneos?
Desired Aggregate Spending Desired aggregate spending refers to the volume of purchases of the currently produced goods and services that all spending units in the economy wish
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