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New Earnings Survey (J3)<br />An annual survey of UK earnings published by the Department of Employment in 1968 and every year from 1970. It provides detailed statistics on the occupational, industrial and regional distributions of employment incomes.
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commercial policy (F1)<br />The international trading policy of a national government with respect to import duties/quotas and export subsidies. These policies have been a central issue in economics since the MERCANTILISTS first debated the merits of TARIFFS.<br /><em>See also:</em> General Agreement on Tariffs and Trade
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<strong>Repayment period</strong> – The period during which payments of principal and interest are required. The repayment period follows any applicable in-school or grace period (for Stafford Loans) and excludes any period of authorized deferment or forbearance.
principal-agent (DO)<br />A contractual relationship much discussed in economics as it is at the heart of so many transactions. The principal increases RISK by delegating to another person the performance of an economic transaction. The advent of limited liability divorced the shareholder owners from the manager agents. Principals can be more effective through agents but have to design an incentive scheme to make their agents follow their preferences.
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