Phyllis Deane; Jessica Kuper's A Lexicon of economics PDF

By Phyllis Deane; Jessica Kuper

ISBN-10: 0203990277

ISBN-13: 9780203990278

ISBN-10: 0415002346

ISBN-13: 9780415002349

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Outflows of capital, to finance overseas investment, for example, are treated as debits, and inflows of capital are treated as credits. A deficit on current account may be offset or ‘financed’ by a surplus on capital account and vice versa. Since the foreign exchange rate is the price of one currency in terms of another, total credits (the supply of foreign exchange) and debits (the demand for foreign exchange) must be equal if the exchange rate is allowed to fluctuate freely to balance the supply of and demand for foreign currency.

D. (1981), The Economics of Advertising, London. See also: marketing research. Aid The terms aid or development aid (often also foreign aid or development assistance) are not entirely unambiguous and are often used with slightly different meanings by different writers and organizations. However, there is agreement that in essence resource transfers from a more developed to a less developed country (or from a richer country to a poorer country) qualify for inclusion in ‘aid’ provided they meet three criteria: (1) The objective should be developmental or charitable rather than military.

One way out of the theoretical and empirical impasse is the suggestion by economists of the Austrian school that advertising should be seen as part of the total product package bought, or not bought, by the consumer. Without advertising, the product either ceases to exist or is a different product, just as it would be if a tangible input was removed. Littlechild (1981) claims that the relevant (practical) alternatives then become the product as it stands or no product at all. The concept of the product with or without advertising is not a real world choice.

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A Lexicon of economics by Phyllis Deane; Jessica Kuper

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