Abstract
So far we have considered only a closed economy. This has enabled us to concentrate on the problem of securing a full employment equilibrium level of income by simply adjusting demand for internally-produced goods and services. International economic repercussions of such a policy have been ignored. Chapters 16–18 relax the assumption of a closed economy and should be treated as a block.
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© 1973 J. Harvey and Janet Johnson
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Harvey, J., Johnson, M. (1973). The Balance of Payments. In: Introduction to Macro-Economics: A Workbook. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-01871-0_16
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DOI: https://doi.org/10.1007/978-1-349-01871-0_16
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-01873-4
Online ISBN: 978-1-349-01871-0
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