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AJM de Vries
ARE WE ON THE DOWNWARD PHASE OF A JL Sadie
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2,5 percent aggregate demand approach average annual rate balance of payments Black communities Bretton Woods system capital deepening changes consumer price CONSUMPTION contributions current account cycle decline demand management economic development effective claims effective foreign effective income claims effective real exchange employment enterprise entrepreneurs environment exports factors of production Figure FIXED INVESTMENT gold price gross domestic product growing growth potential high inflation important industrial inflation rate inflationary process informal sector innovation interest rates Jager Kondratieff labour force long-run long-term money supply national product percent per annum percentage period perspective Phillips curve political population potential output price level problems production function Prof public sector rand rate of growth rate of inflation relatively Reserve Bank result rise Sadie savings ratio seventies social South Africa South Africa's inflation South African economy stagnation terms of trade Third World sector trend University of Stellenbosch Vries wage