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Substitution in sentence

100 examples of Substitution in a sentence

Last year, a combination of substitution efforts, inventory drawdowns, reduced usage, and illegal Chinese exports meant that up to 8,000 tons of China’s export quotas were left unused.
The Council of Economic Advisers, whose members write the president’s report, surmise that structural changes – including stronger incentives for efficiency by hospitals and providers, more cost-sharing in insurance policies, and the substitution of generic drugs for branded drugs – explain most of the deceleration in per capita spending growth.
It wants to keep prices lower to maintain the global economy’s oil addiction and deter technological substitution of alternative energy sources.
Import substitution takes place before your eyes: a clothing store that last year sold only imported apparel, now sells only domestically produced goods.
Within the framework of textbook microeconomic theory, this happens when the “elasticity of substitution” in the production function is greater than one: capital can be substituted for labor, imperfectly, but with a small enough decline in the rate of return so that the share of capital increases with greater capital intensity.
Larry Summers recently argued that in a dynamic context, the evidence for elasticity of substitution greater than one is weak if one measures the return net of depreciation, because depreciation increases proportionately with the growth of the capital stock.
But traditional elasticity of substitution measures the ease of substitution with a given state of technical knowledge.
If there is technical change that saves on labor, the result over time looks similar to what high elasticity of substitution would produce.
This would be true even if the elasticity of substitution between K1 and aggregate effective labor were less than one.
This does not mean an increase in overall taxation, but simply a substitution in each country of a pollution (carbon) tax for some current taxes.
The substitution of natural gas for coal has put the US on track to meet the Obama administration’s international commitment to reduce CO2 emissions 17% below 2005 levels by 2020.
Allow for some substitution away from more expensive imported goods, and the number drops below 1%.
Simultaneous to this, a strong consensus developed among economists and policymakers that favored the import substitution policies then being pursued by countries including India, Argentina, Brazil, Egypt and Turkey.
This doesn’t amount to a conversion to liberal principles or a substitution of Europe for the ideals of the left and of socialism.
But, given long lags between exploration and exploitation, by the time the new output capacity actually comes on stream, substitution has already taken place, and demand often no longer justifies the available supply.
First proposed by Khamenei in 2012, this approach relies on import substitution and favors domestic over foreign investment, in an effort to reduce Iran’s reliance on Western economies and strengthen its resilience against international sanctions.
In developing countries, import substitution as a way to jump-start economic diversification can work for a while; but, over time, as productivity growth lags and comparative advantage is over-ridden, growth grinds to a halt.
As Latin America, the Philippines and others abandon import substitution and adjust to the international market economy, business interests change as well.
The massive substitution of reserves for longer-term securities during the period of “quantitative easing,” and of Treasury bills for long-term securities in Operation Twist, has succeeded in reducing long-term interest rates.
The combination of low interest rates at every maturity and the substitution of short-term securities for longer-term assets has also succeeded in raising share prices.
If IDUs inject heroin or related opiates – as is primarily the case in Eastern Europe – establishing opiate substitution programs with methadone or buprenorphine can dramatically slow HIV transmission.
This process of labor substitution and disintermediation has been underway for some time in service sectors – think of ATMs, online banking, enterprise resource planning, customer relationship management, mobile payment systems, and much more.
For the most part, center-right, democratically elected governments replaced the military dictatorships, and they exchanged the previous economic paradigm – import substitution, state intervention, and overregulation – for the Washington Consensus, which called for fiscal discipline, price stability, trade and financial liberalization, privatization, and deregulation.
A surprise devaluation last August has been followed by a number of lower daily fixes in the onshore exchange rate, all intended to make Chinese goods more attractive abroad, while accelerating import substitution at home.
Though import substitution and subsidies were initially successful in igniting industrialization, lack of scale soon hindered efforts (a country of a few million cannot hope to have an auto industry aimed only at the domestic market).
Moreover, in the past, southern African countries put their faith in protectionism and import substitution policies.
And, as a recent McKinsey Global Institute study shows, there is plenty more room for such substitution.
The partial substitution of national debt with European bonds might reduce the marginal debt-service cost for distressed countries while they are being issued.
He was now “convinced that the substitution of machines for human labor is often very injurious to the class of laborers,” that the “same cause which may increase the net revenue of the country, may at the same time render the population redundant.”
In the early 1980's, much of Latin America was in serious economic trouble--triple-digit inflation, huge fiscal deficits, and negative growth rates--after decades of following a macroeconomic policy that emphasized import substitution.
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