ECON 231 Lecture : Homework 5 2010 Homework Problem Solutions
16 Oct 2011
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Macroeconomics is the study of economics on a whole market basis of how people and markets interact to form actions and reactions in our open economy. Microeconomics is the study of more specific parts of the economy and the actions and reactions changes have to specific parts and people. International monetary economics is a framework for analyzing money in its functions as a medium of exchange, store of value, and unit of account. It considers how money, for example fiat currency, can gain acceptance purely because of its convenience as a public good. It examines the effects of monetary systems, including regulation of money and associated financial institutions and international aspects [wiki: monetary economics]. Verify that, in general, dollar outpayments are debits (or purchases of foreign exchange by canadians); and dollar inpayments are credits (or sales of foreign exchange by.
