Revision Notes For Class 12 Economics Macroeconomics Chapter 6 Open Economy Macroeconomics

Open Economy Macroeconomics is a chapter that deals with trading with other countries in the terms of goods and services. This chapter comprises of various topics – open economy, balance of payment, current account, balance of trade, autonomous transaction, accommodating items, foreign exchange market, foreign exchange rate, fixed exchanges rate system, determination of foreign exchange rate, devaluation, depreciation, managed floating.

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