The balance of payments constraint refers to the limits on:

A. exchange rate policy imposed by flexible exchange rates.
B. currency convertibility observed in most developing countries.
C. domestic macroeconomic policy, arising from a shortage of international reserves.
D. macroeconomic policy resulting from IMF conditionality.


Answer: C

Economics

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a. A religion based on amassing capital. b. An economic system characterized by private ownership of resources, and decentralized market allocation. c. An economic system characterized by government ownership of resources and centralized allocation. d. None of the above answers are correct.

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When we say the cost of living has gone up, we mean that, looking broadly over a range of goods and services:

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According to the law of diminishing marginal returns, as more of a variable input is combined with fixed amounts of other resources:

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The relationship Q = f(K, L) is an example of a

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Economics