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The Global Macro Economy ((Why do Monies Exist? (How do they affect the…
The Global Macro Economy
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If government Policies always optimal - recessions never happened, currencies never crashed, and debts were never in default .
How can policy makers avoid bad economic outcomes and formulate better monetary and fiscal policies?
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The trade balance of a country is the difference between the value of its exports and the value of its imports, and is determined by macroeconomic conditions in the country.
International trade in goods and services acts as a substitute for migration and allows workers to improve their standard of living through working in export industries, even when they cannot migrate to earn higher incomes.
The majority of world migration comes from developing countries and, when possible, the migrants prefer to enter wealthier, industrial countries.
The trade balance of a country is the difference between the value of its exports and the value of its imports, and is determined by macroeconomic conditions in the country.
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