NCERT Class 12 Economics Solutions Online

1. Open Economy MacroeconomicsCLASS-12

2. Open Economy Macroeconomics • Introduction In the context of trade, economies can be of two types: Closed economy and Open economy. Open Economy refers to an economy that trades with other nations. Balance of Payment is a systematic record of all economic transactions between the residents of a country and the rest of the world carried out during an accounting year. It is composed of two sections: current account and capital account. Current account records imports and exports of goods and services and unilateral transfers. The capital account records all the economic capital transactions related to change in assets. Sometimes there is a situation Disequilibrium in Ba alance of Payment that can either be deficit BOP or surplus BOP. Balance of Trade is merchandise balance in the current account showing balance of visible international trade transactions during a year. Foreign Exchange Market is defined as a market in which foreign currencies are bought and sold. Foreign Exchange Rate is the rate at which one unit of currency of a country is exchanged for the number of units of currency of another country. There are two types of exchange rates: nominal exchange rate and real exchange rate. Purchasing Power Parity means that a basket of goods costs the same in two countries when measured in the same currency. 

3. Extramarks’ Approach CBSE Board Exams for class 12 are very important for the students and the pressure to score well in these exams is immense. CBSE mostly includes questions from NCERT textbooks in the exams and having the solutions can prove to be of great help for students. With Extramarks students can get access to Economics class 12 NCERT solutions helping them understand the textbook questions and prepare optimally for the exams.  https://www.extramarks.com/ncert-solutions/cbse-class-12/economics-open-economy-macroeconomics

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