A Lexicon of Economics (Social Science Lexicons) by Phyllis Deane, Jessica Kuper PDF

By Phyllis Deane, Jessica Kuper

ISBN-10: 0203990277

ISBN-13: 9780203990278

ISBN-10: 0415002346

ISBN-13: 9780415002349

A useful paintings which serves as an creation to the topic and as a reference for all those that have to stay updated with monetary considering.

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Extra resources for A Lexicon of Economics (Social Science Lexicons)

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Business Cycles Business cycles are recurring cycles of economic events involving a period of more rapid than normal or average growth (the expansionary phase) and culminating in a peak, followed by a phase of slower than average growth (a recession), or a period post-war literature, business cycles are normally assumed to be forty to sixty months in duration distinguishable from various of negative growth (a depression) culminating in a trough. In the longer cycles that have been discussed in the economics literature, such as the six to eight year Major trade cycle, the fifteen to twenty-five year Kuznets or building cycle, and the fifty to sixty year Kondratieff wave.

Deficits may be financed by government borrowing from international banks and monetary institutions, such as the International Monetary Fund, or by selling gold and foreign currency reserves. Surpluses may be dissipated by accumulating reserves or lending overseas. The fact that a flexible exchange rate guarantees a balance in the foreign exchange market does not mean a country is immune from balance of payments difficulties. A country may experience a decline in real income and employment because of the inability of exports to pay for imports on current account.

Its aim may include the enhancing of a reputation as well as inducing immediate purchase, for example, political and charitable advertising, announcement of corporate trading results, and the sponsorship of sports or cultural events. ADVERTISING 7 Media employed include journals, newspapers, television, radio, cinema, bill hoardings and direct mail. Advertising grew in importance with the Industrial Revolution, mass production and, later, self-service retailing. As these replaced traditional methods of manufacture and distribution, so salesmen ‘pushing’ goods to a relatively small number of retailers were gradually and partially displaced by advertising aimed at large numbers of final consumers who, if convinced of a product’s merits, would ‘pull’ it through the marketing channel.

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A Lexicon of Economics (Social Science Lexicons) by Phyllis Deane, Jessica Kuper

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