Answer:
The correct answer is option c.
Explanation:
Forlornistan is experiencing an economic downturn, the GDP has steadily declined, the employment rate is very low and the CPI is falling.
All these characteristics show that the economy is going through economic depression.
Depression refers to the situation in which an economy suffers a downturn in economic activities. It involves decrease in output level, price and employment rate.
If you were referring to the Person Specification, then it is a personal information used by job seekers to be presented to their employers. They usually contain: qualifications, skills, work experience and other details about a person. They are used to judge whether a person is qualified to take up that position.
Answer:
(i) $940 billion
(ii) $380 billion
(iii) -$80 billion
(iv) $300 billion
Explanation:
Income, Y = $1,500 billion
Government spending, G = $260 billion
Taxes, T = $180 billion,
Investment spending, I = $300 billion
As Y = C + G + I
Consumption spending, C = $1,500 - $260 - $300
= $940 billion
Private savings = Y - T - C
= $1,500 - $180 - $940
= $380 billion
Public saving = T - G
= $180 - $260
= -$80 billion
National saving = private + public
= $380 - $80
= $300 billion
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Answer:
International Monetary Fund, IMF and the World Bank
Explanation:
The Bretton Woods Agreement was negotiated in July, 1944 which established a new global monetary system. It made US dollar the global currency and replaced gold standard.
This agreement created The World Bank and International Monetary Fund (IMF) which would monitor the new monetary system.
The Bretton Wood system was dissolved in 1970's but IMF and The World Bank still exist and are strong pillars of global monetary system.
