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Chapter 24

Problem 1

Write short notes on the (a) Balance of trade (b) Balance of invisible trade.

Problem 3

Differentiate between autonomous and accommodating transactions.

Problem 4

Briefly discuss the different kinds of disequilibria in the balance of payments.

Problem 4

"To determine whether the balance of payments is in equilibrium or disequilibrium, only the autonomous transactions are considered. Explain.

Problem 5

According to the Marshall-Lerner condition, for a devaluation to have a positive effect on a country's balance of payments, the sum of the absolute values of the elasticity of demand for its exports and imports should be greater than one.

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