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The condition that the sum of the elasticities of demand for exports and imports exceed one (in absolute value); that is, hX + hM > 1, where hX, hM are the demand elasticities for a country's exports and imports respectively. Assuming the current account balance = 0 and supply elasticities are inifinte (necessary but not sufficient) this is the condition for a depreciation to improve the trade balance
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Who coined the term Economics?
Alfred Marshall
Who proposed an economic aid package for Europe?
The US Secretary of State, George Marshall was the author of the Marshall Plan for rebuilding Europe after WW II.
Who proposed a plan to provide massive economic aid to Europe?
Secretary of State George Marshall AKA General George Marshall. See link below.
Who introduced the concept consumers surplus?
Alferd Marshall....
What Alfred marshall contribute in economic?
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What is the birth name of Fred Lerner?
Fred Lerner's birth name is Frederick Marshall Lerner.
What is the birth name of Avi Lerner?
Avi Lerner's birth name is Abraham Lerner.
What is the birth name of Diki Lerner?
Diki Lerner's birth name is Richard Daniel Lerner.
What is the birth name of Katharine Lerner?
Katharine Lerner's birth name is Katharine Lynn Lerner.
What is the birth name of Samuel Lerner?
Samuel Lerner's birth name is Lerner, Samuel Manuel.
What is the birth name of Thessaly Lerner?
Thessaly Lerner's birth name is Thessaly Storm Lerner.
Show the derivation of the marshall-lerner condition with all the assumptions?
The Marshall-Lerner condition states that a devaluation or depreciation of a country's currency will improve its trade balance if the sum of the price elasticities of demand for exports (E_x) and imports (E_m) is greater than one: ( E_x + |E_m| > 1 ). The derivation assumes that consumers respond to price changes in a predictable manner, meaning both export and import demand are elastic. Additionally, it presumes that the currency change affects the prices of goods in foreign and domestic markets, leading to changes in quantity demanded. Under these conditions, the trade balance improves as the increased export volumes and reduced import volumes more than offset the initial revenue effects of currency depreciation.
How tall is Avi Lerner?
Avi Lerner is 6' 2".
How tall is Katharine Lerner?
Katharine Lerner is 5' 5".
When was Harriet Lerner born?
Harriet Lerner was born in 1944.
When was David Lerner born?
David Lerner was born in 1951.
When did David Lerner die?
David Lerner died in 1997.
