08 Jun Question 1Why study Economics in Information Age? What is the difference between Macroeconomics and Microeconomics? Give examples to substan
Question
1Why study Economics in Information Age? What is the difference between Macroeconomics and Microeconomics? Give examples to substantiate your answer.
2-Why does the demand curve slope down? Why does the supply curve slope up? Give examples.
3-What is GDP? How it is different from GNP? Does information technology help in assessing the GDP more accurately? How help it is for Economist in forecasting for future?
4-How do individuals of one nation trade money with individuals of another nation?
5- List the goods you believe are price inelastic and price elastic and explain why.
6- How do changes in exchange rates affect international trade? How do nations record their transactions with the rest of the world?
7-Define foreign exchange and the foreign exchange market. PROVIDE EXAMPLES. Distinguish between appreciation and depreciation of a currency. PROVIDE EXAMPLES
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