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If aggregate demand is running above the supply potential of the economy, it is
highly probable that deflationary policies will slow the increase of prices and thus
make a country more competitive with foreign suppliers. There is not the same ...
Sometimes wage increases that are made in the normal collective bargaining
process are greater than the increases in labour productivity (or output per man-
hour); such wage increases tend to increase the cost of production and to force ...
Estimates based on the most recently accepted hypotheses as to the likely rate of
growth of national income in principal developing countries indicate that between
1962 and 1985 per capita demand for food will increase by about 33 percent.
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This is the 198215th Edition, in two halves, with the Macropaedia and the Micropaedia. First published in 1768, the publisher is the oldest English-language encyclopedia still in print. Two Scottish ... Read full review