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7 Cards in this Set
- Front
- Back
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Internal Balance
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The objective of full employment with price stability; usually a nations most important economic objective.
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External Balance
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The objective of equilibrium in a nation's Balance of Payments
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Expenditure-changing policies
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Fiscal and monetary policies directed at changing the level of aggregate demand of the nation.
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Expenditure Switching policies
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Devaluation or revaluation of a nation's currency directed at switching the nation's expenditures from foreign to domestic or from domestic to foreign goods.
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Direct Controls
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Tariffs, quotas and other restrictions on the flow of trade and capital.
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Exchange Controls
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Restrictions on international capital flows, official intervention in forward markets, multiple exchange rates, and other financial and monetary restrictions imposed by a new nation.
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Multiple exchange rates
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The different exchange rates often enforced by developing nations for each class of imports depending on the usefulness of the various imports as determined by the government.
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