Tom has written about the Marshall-Lerner theorem here.
His post needs:
a. a numerical example eg £1 = $2. What hapopens if we devalue by 10% and the combined elasticity > 1?
b. what happens if demand for imports is inelastic and demand for exports is also inelastic?
c. a chart
d. reference to Black/EWhite Wednesday in 1992.
It's GOOD to investigate - he's covering a topic after four weeks of Economics that people do not usually start until after 72 weeks....
But remember: it is A2
Also remember though that as long as your answer is relevant and answers the question then it's fine.
What I'd prefer Tom and others to do though, is attempt the topics here - last year's group (where about half the students got grade A) gave up, confused.
2 days ago
3 comments:
Haha Chris,
I made the setup of my blog so that only nice and friendly comments can be placed! :-)
No seriously, I don't know why people can't comment on my blog. Maybe you could have a look at my preferences when I come to class next wednesday.
I've added the numerical example, I hope it's okay.
I will now start on the other points of improvement... bleeh i'm tired!
I added all the things you asked for.
I don't know why nobody seems to be able to comment on my posts...
I added all the things that you asked for! :)
Also, I hope that I allowed the commenting again. I don't know what went wrong, but I had to alter the HTML in order to fix it.. kinda weird!
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