by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What are the BRIC Countries? BRIC is used to define the idea that by 2050 Brazil and Russia will have become the worlds dominant suppliers of raw materials while China and India will have become dominant suppliers of manufactured goods in the world. BRIC nations,...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Balance of Payments?The balance of payments refers to a statement of all the transactions carried out between the entities in one country and those in the rest of the world over a specific period. How is the Balance of Payments Calculated? The BOP is used...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Balance of Trade?The balance of trade (BOT) is the difference between the value of a nation’s imports and exports at a certain period. It is by far the most significant component of any country’s balance of payments. The BOT is used by...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Arrow’s Impossibility Theorem?Arrows Impossibility Theorem is a theory developed by Kenneth Arrow which states that there is no fair voting system to determine one’s order of preference if the election involves more than two candidates. Why...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Accommodative Monetary Policy?Accommodative monetary policy, also known as easy monetary policy or loose monetary policy, allows the fiscal reserve to increase in relation to national income and the positive function of money demand. This policy generally...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Humphrey-Hawkins Act?The Humphrey-Hawkins Full Employment Act, more formally known as The Full Employment and Balanced Growth Act, was passed in 1978 to amend the Employment Act of 1946. The purpose of the act was to give clarifying instructions on the use...
