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Money and culture

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Money and culture

Category: Coursework

Subcategory: Marketing

Level: College

Pages: 1

Words: 275

Money and Culture
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Money and Culture
The international monetary fund (IMF) is an international organization that seeks to promote financial stability and global economic growth to reduce poverty. The IMF ensures that monetary discipline is enforced globally. It also stabilizes the Exchange rates across money to facilitate adjustments in international payment (Ong, 2014). On the other hand, the World Bank works on economic growth and decreasing the level of poverty. There are various factors, political and economic that influences the exchange rates of foreign currency. One of them is government spending. Government spending can affect the foreign exchange rates in various ways as discussed below.
Fiscal policy refers to the use of taxes and government spending to slow down or grow a country’s economy. The fiscal policy use prices, interest rates or income changes to modify exchange rates. If the government lowers taxes, there is an increase in income translating to more spending and an increase in spending (Alesina & Giavazzi, 2013). The increase in imports means that more dollars will be sold to purchase the imported goods hence decreasing the exchange rate of the dollar.
The government can grow the economy through the reduction of taxes. This will lead to more spending and an increase in goods and services. The increase in demand will increase prices making the country’s exports expensive and imports cheaper. Th…

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