There are two ways the price of a currency can be determined against another. A fixed, or pegged, rate is a rate the government (central bank) sets and maintains as the official exchange rate. A set price will be determined against a major world c...... More »
Absolute advantage and comparative advantage are two basic concepts to international trade. Under absolute advantage, one country can produce more output per unit of productive input than another can. With comparative advantage, if one country has...... More »
An experiment is described by an exponential random variable with mean ? and x1 and x2. A proposed test of the hypothesis ?=2 against the alternative ?=� uses the critical region {(x1, x2): min(x1, x2) <�} Show that this test has size of approx...... More »
The socialist system is based on the notion of equality for everyone, everyone has a job and everyone has a place to live. Everyone has to forfeit his or her class rights in a socialist system. A socialist system has universal health care and dent...... More »
Price mechanism is the point, which equilibrates supply and demand within a market. It is a mechanism of pricing. The price mechanism is one, which allows the prices of good and services to be decided by the interplay be...... More »
Project feasibility study is required to make a decision whether the project proposal is technically and economically feasible. After finalization of the project feasibility report by the experts (technical & economical), the decision for goin...... More »
I think the reason was that by standardizing the monetary system, trade between the countries of the EU would become much less complicated, and therefore easier and hopefully would increase significantly, benefiting all involved. ...... More »
