How will the recent Gold Monetisation Scheme affect the foreign exchange and the BOP situation of our country?Use graph also.
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As a result of Gold Monetisation Scheme, the import of the gold will be lowered. The reason behind this is that domestic requirement of gold will be fulfilled to a level by the mobilization of gold available to the households under this scheme.
As a result, the foreign exchange rate will also decrease. The supply will remain the same, a shift of demand will be seen to the left. So both these factors will result in BOP surplus.
As a result, the foreign exchange rate will also decrease. The supply will remain the same, a shift of demand will be seen to the left. So both these factors will result in BOP surplus.
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Answer: Budget Set: Budget set refers to the attainable combinations of a setof two goods, given prices of the goods and income of the consumer. ... Similarly, if income of the consumer remains unchanged, the budget linewill shift to the right when there is a proportionate fall in the prices of both goods X and Y.
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