The effects of policy on natural resources environment can be imposed by its effects on agricultural activities.

政策对自然资源环境的影响主要是通过对农业生产活动的作用来实现的；

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Others noted that financial market strains and elevated risk spreads had offset much of the effects of policy easing on the cost of credit to borrowers.

其他人认为金融市场紧张及风险的扩大抵消了放松借款人信用成本的政策作用。

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In this context, one of the key risks for South Korea is that the recovery in foreign demand will falter as the effects of policy stimulus in major export markets fade.

在这种情况下，主要风险之一，对韩国经济复苏是在国外需求也将随之刺激政策的影响主要出口市场消失。

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Budgets should forecast up to 50 years out, so the full effects of policy are clearly seen.

ECONOMIST: Government accounting

"It is very difficult to assess how well the government is progressing toward its target of reducing net-migration to the 'tens of thousands', or to evaluate the effects of specific policy changes, " says Dr Martin Ruhs, Director of the Migration Observatory at the University of Oxford.

BBC: The truth behind UK migration figures

Furthermore, the effects of monetary policy tend to be spread less evenly across the economy than those of fiscal policy.

ECONOMIST: Fiscal flexibility