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<strong>Principal balance</strong> – The outstanding amount of a loan, on which the lender charges interest.
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siege economy (P4)<br />A national ECONOMY cut off from economic relationships with the rest of the world, USUally through war or ECONOMIC SANCTIONS. To maintain the availability of a wide range of goods, such economies have to diversify into activities new to them. It has been argued in favour of tariffs that some high-cost industries should be protected from international competition in case a country is under siege in the future and needs the output from those industries.<br /><em>See also:</em> autarky; open economy
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