Please discuss the difference between the terms devaluation and depreciation
What will be an ideal response?
Depreciation is a rise in the exchange rate E when the exchange rate floats, while devaluation is a rise in E when the exchange rate is fixed. Devaluation reflects a deliberate government decision, while depreciation is an outcome of government actions and market forces ("the invisible hand") acting together.
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Describe the alternative measures of unemployment
What will be an ideal response?
In general, there is a(n) ________ relationship between the height/strength of the barriers and the number of firms in an industry
A) direct B) inverse C) constant D) random
The working poor are likely to be found in just a few broad occupational categories
Indicate whether the statement is true or false
The marginal product of labor
A. measures how output changes as the wage rate changes. B. is negative when adding another unit of labor decreases output. C. is less than the average product of labor when the average product of labor is decreasing. D. both a and b E. both b and c