DEVALUATION Definition

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DEVALUATION, in economics, is the lowering in value of one currency in relation to other currencies.

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CAPITAL COMMITMENT is an agreement to undertake capital expenditure at some set time in the future which has not yet become an actual liability.

NEUTRALITY, in an economic model, is where money is said to be neutral in the model if changes in the level of nominal money have no effect on the real equilibrium.

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