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Introduce about the open-economy macroeconomics shortly.
The Open Economy:
a. One of the major concerns introduced through open-economy macroeconomics is the exchange rate, which the price of one currency into terms of other.
b. Exchange rates can influence the aggregate price level.
c. They can also influence aggregate output by their consequence on the trade balance; the dissimilarity between the value of the goods and services a country sells to the other countries as well as the value of the goods and services that buys in return.
d. Economists are also associates about capital flows, which movements of financial assets across borders.
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1. Given the following production function: Y = K1/4 L3/4 Find the following: a. Per worker production function. b. Steady-state capital-labor ratio as a function of d and
Write a one paragraph summary and three paragraphs that take the information in the article and relate it specifically to the circular flow model and the supply and demand curves.
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# ???? .. difference between gdp at market price and nnp at factor cost
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