It is often argued that international convergence of economic indicators is a desirable objective. Does this mean that countries should all seek to achieve the same rate of economic growth, monetary growth, interest rates, and budget deficits as a percentage of their GDP, etc.?
Answer to relevant QuestionsFor what reasons might the price of foreign holidays rise? In each case, identify whether these are reasons affecting demand, supply, or both.If the government increases the tax on a liter of petrol by 5p, what will determine the amount by which the price of petrol will go up as a result of this tax increase?Did the exchange rate difficulties experienced by countries under the ERM strengthen or weaken the arguments for progressing to a single European currency?Compare the relative merits of using GNY statistics with those of various basic needs indicators when assessing both the level and the rate of a country’s economic development.What are the advantages and disadvantages of debt swapping as a means of reducing the debts of developing countries?
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