ABSTRACT
Figures VIII.l-VIII.8 show how the economy might have developed over the years after 1972 if the control policies discussed in the previous chapter had been adopted instead of the policies that were in fact applied. Figures VIII.1, VIII.2 and VIII.3 show movements in the three target variables: namely the money value of the gross domestic product at factor cost (Money GDP), the unemployment percentage and the balance of payments on current account respectively, while Figures VIII.4-VIII.8 show movements in the various instruments of control: namely, the rate of indirect tax, the rate of employees' national insurance contributions, the rate of money earnings per man, the foreign-exchange rate and the index of competitiveness respectively.
