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soft budget (H6)<br />A budget with a flexible limit. In CENTRALLY PLANNED ECONOMIES, the budgets of many firms were 'soft' because loss-making firms are kept in business by subsidies, tax concessions and credits.
merchandise balance of trade (F4)<br />Visible balance of trade. See also: balance of payments
above the line (H5, M3)<br />1 A type of expenditure and revenue of a government. For UK budgets from 1947 to 1963, it referred to spending out of current tax revenue.<br />2 A firm's expenditure on direct advertising.<br />3 The items in the summary UK balance of payments which are within the current and capital balances.<br /><em>See also:</em> below the line
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short-term inelastic supply reflects the lengthy nature of training.
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