Write short notes for the following questions.

i.If the demand curve facing a firm is horizontal or nearly so, what does it say about the firm's competition?

ii.Explain the difference between a country's debt and a country's deficit.

iii."Demand pull inflation is often monetary in origin". Explain the reasons for the above statement.

iv.Explain the function of banks and other financial institutions in the economy.

v.What is the difference between nominal GDP, real GDP and potential GDP?

vi.Commercial Banks are said to be managing their depositors' funds to achieve two conflicting objectives, profitability and liquidity. Explain why these objectives are conflicting with each other.