... the USA, theEMPLOYMENT ACT 1 946 made government re-sponsible for economic stability andgrowth; in the UK,BEVERIDGE’s Full Em-ployment in a Free Society (1 944 ) intro-duced the same goal ... (F4)For aBALANCE OF PAYMENTS this occurs© 2002 Donald RutherfordReferencesHey,J.(1991)ExperimentsinEconomics,Oxford:Blackwell.Kagel,J.andRoth,A.(eds)(1995)TheHandbookofExperimentalEconomics,Princeton,NJ:PrincetonUniversityPress.expertsystem(M1)Computersoftwarethatreproducestheexpertiseofaspecialistbyprovidingasetofrulesandaknowledgebasesothatauserisaskedasetofquestionsbeforethecomputerprogramgivesadvice.Themanyapplicationsofthesesystemsincludecon-trollingproductionplantsandinsuranceunderwriting.explicitcontract(D0)Anagreementwhosetermsarestatedclearlybytheparties.Thisisusuallyinwritingandlegallyenforceable.Seealso:implicitcontracttheoryexplicitcost(D0)Actualmoneyexpenditureincurredtoobtainafactorofproductionoragoodorservice.Seealso:implicitcostexploitation(J7,Q2)1Usingormisusinganaturalresource.Extractionofmineralsconstitutesuse;misusearisesfromcausinglong-termdamagetotheenvironment.2Treatinglabourunjustlybyeitherpay-ingitlessthanitsMARGINALPRODUCTorextractingSURPLUSVALUEfromit.export(F3)Thesaletoaresidentofanothercountryofadomesticallyproducedgoodorser-vice.Unlessaneconomyisself-sufficient,itwillbenecessaryforittoexportinordertobeabletopayfortheimportsde-mandedbyitsresidents.Thevolumeofacountry’sexportshasmanydeterminants,includingtheexchangerate,marketingmethods,deliverytimes,productdesignandgovernmentsubsidization,especiallytheguaranteeofexportfinancesothatfirmswillnotbediscouragedfromexport-ingbytheriskofbuyers’defaulting.ExportsnetofimportsareincludedintheGROSSDOMESTICPRODUCT.Seealso:importExportImportBank(G2)Washingtonbanksetupin1934asanagencyoftheUSfederalgovernmenttofacilitateandfinanceexports,e.g.byissu-ingguarantees,directloansandinsuranceprogrammestominimizebuyers’default.exportpromotion(F3)Asetofmeasures,usuallytakenbyanationalgovernment,tosubsidizethemarketingoverseasofdomesticallypro-ducedgoodsandtoguaranteeforeignpaymentsforthem.exportrequirement(F2)Aruleimposedbyahostgovernmentonforeigninvestorstoexportaminimumpercentageoftheiroutput.ThisisapolicyresponsetothepracticeofaMULTINA-TIONALcompanyofdivertingtoothermarketstheoutputofadomesticproducerithastakenovertothedetrimentofthehostcountry’spatternoftrade.exportsubsidy(F1,H2)Areductioninthecostofexportsbroughtaboutbyagovernmentgrant.Therecanbereductionsinthecostsoflabour,ofcapitalorofexportfinancing,aswellasmorefavourabletaxtreatment.SMITHre-ferredtosuchsubsidiesas‘bounties’.expostvariables(E0)Variableswhichshowactualeconomicoutcomes,e.g.theamountoffixedinvest-mentwhichhasbeenundertaken.Inthe1930stherewasmuchdiscussioninmacro-economicsofhowexantesavingsandinvestmentthatweredifferentinamountbecameequalexpost.Onepossibilitywasfortheretobesavingateachroundofincomegeneratedfromanexanteinvest-mentexcessoverexantesaving.Seealso:exantevariables© ... England.Seealso:BankingSchoolReferencesWhite, L.H. (19 84) Free Banking in Brit-ain: Theory, Experience and Debate,1800 45 , Cambridge: Cambridge Uni-versity Press.free cash flow (D3, M4)A firm’s intake of cash in...