Key Concepts in International Finance and Economics
Role of the International Monetary Fund (IMF)
The IMF provides financial assistance to countries in crisis. It helps stabilize exchange rates and balance of payments. In return, it requires economic reforms.
Members of the International Financial System
It includes central banks, governments, commercial banks, the IMF, and the World Bank. It also includes financial markets and investors. Together, they manage global financial stability.
Why the US Dollar is the Global Reserve Currency
The dollar is widely
Read MorePolicy, Growth and Food Security: Institutions, Subsidies, Population
Lecture 13: Policy Frameworks and Public Health
Lecture 13: This lecture analyzes policy frameworks by asking, “Who should do what?” It compares the roles and limits of four key actors:
- Families/Individuals — best at knowing needs and showing devotion; limited by resources.
- Communities — best at local coordination and devotion; limited by scale.
- Governments — best at coercion and large-scale coordination; limited by borders.
- International organizations — best at cross-boundary issues; limited
Essential Economics Concepts: Markets, Policy, and Global Trade
Foundations of Economic Systems
Market and Command Economies
In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of: buyers and sellers.
In countries like _____________ the command economy predominates: Cuba and North Korea.
Which of the following best denotes the reason for the existence of substantial black markets? A command economy.
Macroeconomics and the Circular Flow
If macroeconomics looks at the economy as a whole, it focuses on which of
Read MoreGreat Depression Key Terms and Definitions
Great Depression Terms and Definitions
Installment buying
Installment buying: Purchasing a commodity over a period of time. The buyer gains use of the commodity immediately and then pays for it in periodic payments called installments.
Bull market
Bull market: A market in which share prices are rising, encouraging buying.
Speculation
Speculation: With only loose stock market regulations in place before the Great Depression, investors were able to speculate wildly, buying stocks on margin and needing only
Read MoreEconomics Exam Answers: MCQ Key and Short Answer Solutions
Objective
50 × 1 = 50
1. D 11. A 21. B 31. D 41. D 2. C 12. B 22. D 32. A 42. C 3. D 13. A 23. B 33. B 43. A 4. D 14. C 24. A 34. C 44. D 5. B 15. A 25. D 35. C 45. C 6. B 16. B 26. C 36. A 46. D 7. D 17. A 27. A 37. A 47. D 8. C 18. C 28. B 38. D 48. C 9. B 19. A 29. B 39. A 49. C 10. A 20. A 30. B 40. D 50. D
Section B — Short Answers
1. What is meant by factor price determination?
Factor price determination
Read MoreMarxist Theory: Value, Surplus, and Capital Accumulation
Chapter 2: The Qualitative-Value Problem
1. Commodity – The Starting Point
A commodity = anything made to sell, not for personal use.
Marx studies exchange as a social process, not just a trade of things.
2. Two Sides of a Commodity
- Use Value → Usefulness (satisfies wants).
- Exchange Value → How much it trades for.
Marx focuses on exchange value because it shows social relations in capitalism.
3. Value Comes from Labor
The value of a commodity comes from labor used to produce it.
Labor has two sides:
Read More