International Economic Integration

adaptation agencies aims applied Area autonomous balance of payments bilateral equilibrium capital movements changes chapter commodities competition consequence considered convertibility countries concerned country's current transactions customs union decentralization decrease deficit demand direct discussed disequilibrium division of labour dollars economic policy elasticities elements employment equal European example exchange rates exist expenditure extent factors of production financial policy free trade gold standard governments hence implies import duties increase indirect indirect taxes industries inflationary influence instruments of economic international economic policy International Monetary Fund international trade investment less long-term marginal cost means ments milliards monetary equilibrium needed Netherlands number of countries obtained optimum organization payments equilibrium perfect competition political population possible price level price ratios problem production curve quantitative restrictions rate of exchange raw materials reduction regulation short-term capital situation small countries stability standard supply surplus tariffs tasks taxes United wage welfare