Titlebook: Understanding the UK Economy; Peter Curwen Textbook 1997Latest edition Macmillan Publishers Limited 1997 competition policy.economic polic

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Taxation,overnment expenditure, borrowing and debt. We do not seek to discuss the operation of fiscal policy instruments as such, which is left to the concluding chapter because it is unhelpful to discuss fiscal policy independently of monetary policy. Furthermore, it is impractical to discuss the use of pol

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Spending, Borrowing and Debt,en an important element of its strategy. The government’s stated objective has long been to hold the rate of growth of public spending (excluding privatisation proceeds) below the growth rate of the economy as a whole, and thus to reduce public spending as a proportion of national income. This shoul

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The Balance of Payments,n an ‘open’ economy, both importing and exporting on a massive scale. Superficially, this may simply be seen to reflect the difficulties which any nation the size of the UK must inevitably face in trying to be self-sufficient across the whole range of goods and services. However, it is important to

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Trading Relations,xception to this general trend, namely international trade. The trade regimes of most OECD countries are currently less liberal than they were 15 years ago. In a survey carried out by the ., some 11700 managers in 25 countries proved themselves generally to be as two-faced about free trade as politi

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