Section 4.5&4.6 Reflection.
29 Nov 2010 Leave a Comment
In sections 4.5 and 4.6, I think I have understood currencies, exchange rate and the aspects of balance of payments. Now, I can define all the terms related to the exchange rate or the balance of payments. However, I think I should understand and practice explaining the effect of certain economic impositions, such as growth in GDP (increase in income) or interest rates, on the short term and long term. In addition, for the future reference, I should remember to relate the self-correcting system to the balance of payments in long term.
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