{Not covered in lectures and omitting the quantity theory of money. Students should therefore read pages 258-264 ... This is summarised in Begg by the following: ...
... buy or sell as much of the currency as people want to exchange at the fixed rate ... maintain the exchange rate the central bank must sell foreign currency to buy ...
So Current Account is the net trade balance plus the net transfer income from abroad ... The UK Balance of Payments 2003 ( bn) Note typing errors in text book ...
Why David Beckham and Robbie Williams earn so much The McGraw-Hill ... David Beckham earn so ... So why does David Beckham. earn so much? Very steep ...