- Industry: Education
- Number of terms: 31274
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A group of countries that adopt free trade (zero tariffs and no other restrictions on trade) on trade among themselves, and that also, on each product, agree to levy the same tariff on imports from outside the group. Equivalent to an FTA plus a common external tariff.
Industry:Economy
1. In the balance of payments, or in any category of international transactions within it, the deficit is the sum of debits minus the sum of credits, or the negative of the surplus. 2. In the government budget, the deficit is the excess of government expenditures over receipts from taxes.
Industry:Economy
A fall in the general level of prices. Unlikely unless the rate of inflation is already low, it may then be due either to a surge in productivity or, less favorably, to a recession.
Industry:Economy
A decline over time in the share of manufacturing in an economy, usually accompanied by growth in the share of services. Typically accompanied by an increase in manufactured imports, it may raise concern that the country is losing valuable economic activity to others.
Industry:Economy
1. The act of offering to buy a product. 2. The quantity offered to buy. 3. The quantities offered to buy at various prices; the demand curve.
Industry:Economy
An amount of money placed with a bank for safekeeping, convenience, and/or to earn interest.
Industry:Economy
1. A fall in the value of a country's currency on the exchange market, relative either to a particular other currency or to a weighted average of other currencies. The currency is said to depreciate. Opposite of "appreciation. "
2. The decline in value or usefulness of a piece of capital over time, and/or with use.
Industry:Economy
A severe recession that lasts several years and/or involves a loss of real GDP of more than 10%. (There is no standard definition. )
Industry:Economy
1. In mathematics, the ratio of the change in a variable to the infinitessimal change in another variable upon which it depends. Often used in economics to specify both assumptions and results of models. 2. In financial markets, a financial instrument whose value depends on some other financial variables. Old examples include forward and futures contracts.
Industry:Economy
1. Depreciation. 2. A fall in the value of a currency that has been pegged, either because of an announced reduction in the par value of the currency with the peg continuing, or because the pegged rate is abandoned and the floating rate declines. 3. A fall in the value of a currency in terms of gold or silver, meaningful only under some form of gold standard or silver standard.
Industry:Economy
