Monetarism

The balance on trade figures shows that from 1973-74 UK had difficulties in restricting imports; the deficit on net exports increased by vast fromUS$ -3958367690 to US$ -9161318512(see table 2). However since 1975 U.K has attempted to decrease these deficits from about US$-3437500272 to a surplus net exports US$ 13346502440 until 1980(see table 2).Interestingly, UK managed to accomplish this positive outcome by evaluating industry performance in home and overseas markets (Hitiris&Bedrossian…