EBK ESSENTIALS OF ECONOMICS
4th Edition
ISBN: 8220103647380
Author: KRUGMAN
Publisher: MAC HIGHER
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Question
Chapter 12, Problem 6P
To determine
The reason why Asian financial crisis and Global financial crisis are referred to that way using the graph given.
Concept Introduction:
Financial crises: This is a situation when the demand for money is more than the supply and the finances are not in the condition to meet the demand. At this time, the liquidity of money is evaporated from the economy, and the available money is withdrawn from the banks, leaving the banks in a situation to collapse.
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