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and New Techniques
Money and the Price Level
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accumulation actually aggregate agriculture assets authorities average bank banking system become borrowers Brazil capital market cash balances Chapter commodities consumer cost currency demand deposits developed countries direct domestic economy effect efficient expansion expected export external firms fiscal flow foreign exchange foreign trade function given growth Hence higher highly holding money import import substitution income increase individual industrial inflation inflows interest rates internal investment issue labor land LDCs lending less liberalization limited loans marginal measured monetary neoclassical nominal output percent period physical capital poor problem production protection raise rates of interest rates of return ratio real return reduced reform relative remain repression restrictions result return on holding rise rural saving sector social sources stabilization structure substitution supply Table tariff theory tion
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