Economics Reading Guide Chapter 6 Name Using Chapter 6 Answer Key
NCERT Solutions for Grade 12 Economics II Chapter 6 Open Economy Macroeconomics – Here are all the NCERT solutions for Class 12 Economics I Chapter 6. This solution contains questions, answers, images, explanations of the consummate chapter six titled Open up Economy Macroeconomics taught in Class 12. If yous are a educatee of Course 12 who is using NCERT Textbook to study Economic science I, and so you must come across affiliate vi Open Economy Macroeconomics. After you have studied lesson, you must be looking for answers of its questions. Here yous can go consummate NCERT Solutions for Class 12 Economics I Chapter 6 Open Economy Macroeconomics.
NCERT Solutions Class 12 Economic science Affiliate six Open up Economic system Macroeconomics
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For a better understanding of this chapter, you should likewise see summary of Affiliate 6 Open Economy Macroeconomics , Economic science, Class 12.
| Class | 12 |
| Subject | Economics |
| Book | Introductory Macroeconomics |
| Chapter Number | six |
| Chapter Proper noun | Open Economy Macroeconomics |
NCERT Solutions Grade 12 Economics chapter 6 Open Economic system Macroeconomics
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Grade 12, Economic science chapter vi, Open Economic system Macroeconomics solutions are given below in PDF format. Y'all can view them online or download PDF file for future employ.
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NCERT Solutions for Class 12 Economics (Introductory Macroeconomics) Chapter 6 Open up Economy Macroeconomics Download
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Download NCERT Solutions Grade 12 Economic science chapter 6 Open up Economy Macroeconomics In PDF Format
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Question & Answer
Q.one: Differentiate between residuum of trade and current account balance. Ans : Difference betwixt residual of trade and current account residuum
Q.two: What are official reserve transactions? Explain their importance in the residual of payments. Ans : Official reserve refers to that the monetary authority (cardinal bank) is financed the any arrears in the residuum of payment. Official reserve transactions take place when a country withdraws from its stock of strange exchange reserves to finance arrears in its overall residue of payment. A state With surplus in its overall BOP leads to ascent in strange exchanges reserves. Importance Official reserve transactions help to bring a residue In the country'south overall residue of payment. Then, it plays an important office in economy of whatever country.
Q.3: Distinguish betwixt the nominal exchange rate and the real commutation rate. If you were to make up one's mind whether to buy domestic goods or foreign appurtenances, which rate would be more than relevant? Explain. Ans : Nominal Exchange Rate It means the toll of foreign currency in terms of domestic currency. Means, the number of units of domestic currency 1 must requite up to become an unit of foreign currency. Real Exchange Charge per unit It refers to the relative price of strange goods interns of domestic appurtenances. To buy domestic appurtenances of foreign appurtenances, at a point of fourth dimension nominal exchange rate is more relevant.
Q.4: Suppose information technology takes one.25 yen to buy a rupee, and the price level in Japan is 3 and the price level in India is 1.2. Calculate the existent exchange rate between India and Japan (the cost of Japanese goods in terms of Indian goods). (Hint: Outset notice out the nominal exchange rate as a price of yen in rupees). Ans : \(\begin{aligned} \text { Given } &=P=\text { Price Level in Republic of india }=1.2 \\ P_{t} &=\text { Price Level in Japan }=3 \end{aligned}\) \(\begin{assortment}{r}{e=\text { Nominal Exchanges Charge per unit }=\frac{1}{ane.25}=0.8} \\ {\text { Real Commutation Rate }=\frac{eastward P}{P}=\frac{08 \times 3}{1.2}=2}\end{assortment}\)
Q.five: Explain the automatic machinery by which BoP equilibrium was accomplished under the aureate standard. Ans : The country from which nosotros were importing and marking payment in gold would face an increase in prices and cost. In that location would exist dis equilibrium. Ordinarily the BOP of the country losing gold, and worsen that of the state with the favourable trade balance, until equilibrium In international trade is re-established at relative prices that keep Import and export In balance with no further cyberspace aureate flow. Thus, fixed substitution rates were maintained by an automated equilibrating mechanism.
NCERT / CBSE Volume for Class 12 Economics
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