membership prices relative to pre membership production levels

at post membership prices relative to pre membership production levels + the saving at post membership prices from the substitution to cheaper goods. The focus is upon three aggregates when a judgement is made whether a country is paying an " appropriate " amount for membership of the EC. The first is the actual transfer itself . This is the payment or receipt which arises from the way in which the EC budget is financed and disbursed . The second aggregate is the increase in the cost of purchasing Britain's 1972 trade quantities at post membership prices. In fact the resulting terms of trade loss from membership on the pre-entry trade quantities was estimated on average at 2.3 per cent of GDP. If in addition to a negative there arises a negative then an overall income deficit exists. However there may be dividends in production and consumption measured by , which, if positive, help to reduce the overall size of the income deficit. Grinols defines the dividend in production as " the profits of British post entry production