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coincident indicators (E3)<br />Measures of economic activity used by economic forecasters to track cyclical movements in the ECONOMY. The main ones used are employment in non-agricultural enterprises, personal income less transfer payments. and indices of total industrial production and manufacturing and trade sales.<br /><em>See also:</em> economic indicators
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division of labour (D2)<br />Specialization of productive activity either by persons in different occupational groups undertaking particular tasks or by
DEVALUATION of a currency with a fixed exchange rate On the BALANCE OF PAYMENTS current account. It is based on the observation that initially after devaluation, before there can be responses to the changed import and export prices, the total cost of imports will be higher and the total value of exports lower. An appreciation of a currency, conversely, will produce an inverted J-curve. The curve plots the balance of payments current account balance against time (in the figure, td is the date at which devaluation occurs).
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