The Balance of Payments

  • J. Harvey
  • M. Johnson


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.


Exchange Rate Foreign Currency Full Employment Foreign Exchange Market Closed Economy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© J. Harvey and Janet Johnson 1973

Authors and Affiliations

  • J. Harvey
    • 1
  • M. Johnson
    • 2
  1. 1.University of ReadingUK
  2. 2.Hatfield PolytechnicUK

Personalised recommendations