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<strong>Administrative forbearance</strong> – A temporary suspension, reduction, or time extension for making principal and/or interest payments on a FFEL Program loan. During any period of forbearance, interest continues to accrue on the loan.
Lewis-Fei-Ranis model (02)<br />A model of economic development for a two-sector closed ECONOMY. The growth of the industrial sector increases demand for the agricultural sector's produce and attracts labour from the low-productivity agricultural sector, thus raising overall output and productivity of the economy as a whole. As there are few developing economies which are isolated from the effects of international trade, the application of the model is limited. the University of the West Indies from 1958 to 1963, President of the Caribbean Development Bank from 1970 to 1973, and professor at Princeton University from 1963 to 1970 and 1973 to 91. With SCHULTZ, he was awarded the NOBEL PRIZE FOR ECONOMICS in 1979 for his work in DEVELOPMENT ECONOMICS. His early work was on price theory and PUBLIC UTILITIES but his fame was established by a celebrated article, published in the Manchester School in May 1954, which inspired the study of developing countries as DUAL ECONOMIES.<br /> <br /><em>Reference</em><br />Datta, A. (1986) Growth and Equity: A Critique of the Lewis-Kuznets Tradition with Special Reference to India, Calcutta and New York: Oxford University Press. Lewis, WA. (1955) Theory of Economic Growth, London: Allen & Unwin.<br /> - (1966) Development Planning: The Essentials of Economic Planning, London: Allen & Unwin.<br /> - (1978) Growth and Fluctuations, 1870-1913, London: Allen & Unwin.<br /> - (1978) The Evolution of the International Economic Order, Princeton, NJ: Princeton University Press.
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<strong>MIME</strong> – Multi-purpose Internet Mail Extensions, a standard messaging protocol used to exchange text in languages with different character sets and multi-media email among many different computer systems that use internet mail.
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