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7 Cards in this Set

  • Front
  • Back
Internal Balance
The objective of full employment with price stability; usually a nations most important economic objective.
External Balance
The objective of equilibrium in a nation's Balance of Payments
Expenditure-changing policies
Fiscal and monetary policies directed at changing the level of aggregate demand of the nation.
Expenditure Switching policies
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.
Direct Controls
Tariffs, quotas and other restrictions on the flow of trade and capital.
Exchange Controls
Restrictions on international capital flows, official intervention in forward markets, multiple exchange rates, and other financial and monetary restrictions imposed by a new nation.
Multiple exchange rates
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.