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Popular methods of payment used in international trade include:
cash with order(CWO)-the buyers pay cash when he places an order.
cash on delivery(COD)-the buyer pays cash when the goods are delivered.
documentary credit-a Letter of credit (L/C) is used; gives the seller two guarantees that the payment will be made by the buyer:one guarantee...
In macroeconomics, the welfare cost of inflation refers to the analyses of changes in social welfare caused by inflation.
The traditional approach, developed by Bailey (1956) and Friedman (1969), treats real money balances as a consumption good and inflation as a tax on real balances. This approach measures the welfare cost by computing the...
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