Economy Terms and Definitions

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1913 Federal Reserve Act
8(a) firm
absolute advantage
accommodative monetary policy
actuarial evaluation
Adam Smith
ADB
administered price
affiliated chains
affiliated wholesalers
African Developmental Bank Group (ABD Group)
African, Caribbean, and Pacific Countries (ACP)
agency theory
aggregate demand
aggregate demand curve
aggregate supply
aggregate supply curve
aid
Alan Greenspan
allocation efficiency
allocative efficiency
allowance
American Recovery & Reinvestment Act (ARRA)
Andean Pact
animal spirits
anti-dumping duty
antitrust laws
apc
applied economics
arc elasticity
arm's length market
ASEAN
Asia Ex-Japan
aspirin count theory
Association of Southeast Asian Nations
asymmetric shock
Austrian traded index
auto and truck sales
automatic stabilizers
autonomous consumption
autonomous expenditure
Autoregressive Conditional Heteroskedasticity
average cost
average hourly earnings
average indexed monthly earnings (AIME)
average product
average propensity to consume
average propensity to import
average workweek
baby boomer
back door
back door financing
bailout
balance of payments
balance of risks
balance of trade
balance theory
balanced budget
balanced growth
Baltic Dry Index
Bank for International Settlements
Bank Rate
banking supervision
barometer
barriers to entry
base interest rate
base period
base year
base-year analysis
basic industry multiplier
basic materials sector
basis point
basket
bear market
Beige Book
Ben Bernanke
Benjamin Graham
Bertrand competition
bias
Big Three
bilateral aid
bilateral trade
BIS
Black Thursday
Board of Governors
bonded terminal
boom
boom and bust cycle
boomernomics
BOP
borrowed reserves
Boston snow indicator
Bretton Woods agreement
Brexit
BRIC Countries
broad money
budget constraint
budget deficit
budget surplus
building permits
business cycle
business portfolio analysis
Buttonwood agreement
buyer's market
buyer's monopoly
buying power
cabotage
capacity
capacity utilization
capacity utilization rate
capital account
capital accumulation
capital consumption allowance
capital formation
capital goods sector
capital inflow
capital movement
capital movements
capital outflow
capitalism
capitalist
carriage trade
cartel
CBI
Central Bank
central planning
chain deflator
Chartered Financial Analyst
Chicago PMI
China-Africa Development Fund (CAD Fund)
Chinese yuan
choke price
chronic inflation
CIC
circular flow of income
civilian unemployment rate
classification of assets
closed economy
closed-end transaction
Coase Theorem
Coase's theorem
coincident indicator
COLA
collapse
collective rationalization
command economy
Commercial Paper Funding Facility
commercial wells
commodity agreement
Commodity Futures Modernization Act of 2000
common external tariff
common market
Community Development Corporation
Community Reinvestment Act of 1977
comparative advantage
compensating differential
compensating variation
compensation principle
compensatory trade
competition
competition policy
competition-based pricing
competitive equilibrium
competitive forces
competitiveness
competitor
complementary good
complete capital market
concentration ratio
Conference Board, The
confidence indicator
consignment
constant dollar GDP
constant dollars
constant prices
constant returns to scale
construction spending
consumer
consumer basket
consumer buying behavior
consumer confidence
consumer confidence index
consumer cyclical
consumer discretionary
consumer durables
consumer equilibrium
Consumer Price Index
consumer sentiment index
consumer staples
consumerization
consumption function
contagion
contestable market
contingent protection
continuously offered longer-term securities (COLTS)
contract curve
contraction
contractionary monetary policy
controlled wildcat drilling
core CPI
core PPI
corporate inflation-linked securities
cost function
Cost of Living Adjustment
cost-based pricing
cost-of-living index
cost-push inflation
Council of Economic Advisers
countercyclical
countercyclical stock
countertrade
countervailing duty
country limit
CPI
creative destruction
credit squeeze
creeping inflation
crony capitalism
cross-border trade
crowding in
crude
crude oil
crude stockpiles
CSO
Culpeper Switch
cumulative causation
current account
current account balance
current dollar GDP
current dollars
Current Employment Statistics (CES)
curve steepener trade
customer
customer analysis
customs duty
customs union
customs value
cycle
cyclical
cyclical industry
cyclical risk
cyclical stock
cyclical unemployment
deadweight loss
debt bomb
debt burden
Debt Ceiling
debt overhang
debt to GDP ratio
debtor nation
decreasing returns to scale
defensive open market operations
deferred wage increase
deficiency payment
deficit financing
deflation
deflationary policy
deflationary spiral
deflator
demand
demand analysis
demand curve
demand elasticity
demand forecast
demand function
demand inflation
demand schedule
demand side economics
demand-pull inflation
demographic transition
demographics
demonetization
denationalization
Department of Commerce
dependency ratio
depletion
deposit multiplier
depreciate
depressed market
depression
deregulation
derived demand
Desk (the)
developed country
developed markets
developing country
developmental drilling program
diminishing marginal returns
diminishing marginal utility
diminishing return
discount rate
discretionary income
disequilibrium price
disinflation
dismal science
division of labor
documents against acceptance (D/A)
documents against payment (D/P)
dollar auction
dollar drain
dollar shortage
domestic rate
Domini 400 Social Index
double counting
dovish
Dow Jones Sustainability World Index
downturn
dowry
draining reserves
drawback system
dry bulk commodity
dual income, no kids (DINKS)
dually employed with kids (DEWKS)
durable goods orders
dutch disease
dynamic open market operations
earned income
easy monetary policy
EBITDA / fixed charges
EBRD
ECI
econometric model
econometrics
economic
economic analysis
Economic and Monetary Union
economic anxiety
economic base
economic benefit
economic calendar
economic contraction
economic cost
economic cycle
economic derivative
economic development
economic efficiency
economic environment
economic equity
economic forces
economic goods
economic growth
economic growth rate
economic impact
economic indicator
economic institutions
economic integration
economic interdependence
economic moat
Economic Order Quantity
economic outlook
Economic Pearl Harbor
economic policy
economic profit
economic recovery
Economic Recovery Tax Act of 1981
economic risk
economic sanctions
economic surplus
economic system
economic union
economic utility
economic value added
economic welfare
economical
economics
economies of scope
economist
economy
Edge Act
EEA
effective exchange rate
effective protection
efficiency
EFTA
EIB
elastic
elastic demand
elastic supply
elasticity
elasticity of demand
elasticity of substitution
elasticity of supply
electronic benefit transfer (EBT)
Emergency Economic Stabilization Act
EMI
emotional intelligence (EI)
Employer Cost Index
Employment Cost Index
endogenous growth
endogenous variable
energizing stimulus
energy return on investment (EROI)
Energy Risk Professional (ERP)
energy sector
entry barrier
environmental analysis
environmental factors
environmental risk
EOQ
equilibrium
equilibrium price
equilibrium quantity
equity efficiency tradeoff
equity injection
equivalent variation
Europe, Middle East and Africa (EMEA)
European Monetary Institute
EVA
ex ante
ex post
Ex-Food And Energy
excess demand
excess supply
existing home sales
exogenous growth
exogenous variable
expansion
expectations index
expectations theory
expensive
export commodity control list
export credit agency (ECA)
export financing interest
export incentive
export led growth
export multiplier
export promotion
export subsidy
export trading company (ETC)
export/import prices
exports
extended broad money
external balance
external debt
external deficit
external diseconomy
external economy
external environment
externality
factor analysis
factor cost
factor endowment
factor income
factor market
factor of production
factors of production
factory orders
fail-safe
Fair and Accurate Credit Transactions Act (FACTA)
fair price
fair trade
Fair Trade Act
FAO
Farm Price Index (FPI)
fast market
favorable balance of trade
FDI
Fed
Fed balance sheet
Fed bias
Fed Chairman
Fed pass
Fed speak
Federal Debt
Federal Deficit
Federal funds rate
federal methodology
Federal Open Market Committee
Federal Reserve Bank
Federal Reserve Board
Federal Reserve Discount Rate
Federal Reserve requirement
Federal Reserve System
Federal Reserve Wire Network
Federal Surplus
Federal Trade Commission
Federal Unemployment Tax Act
fiat currency
final good/service
financial
financial crisis
Financial Institutions and Prudential Policy Unit (FIPP)
financial sector
financial services roundtable
fiscal
fiscal drag
fiscal package
fiscal policy
Fisher effect
Fisher separation theorem
fixed currency
fixed exchange rate
flexible expense
flow
fluctuate
FOMC
fool in the shower
footloose industry
Foreign Debt
foreign exchange reserve
foreign investment risk matrix (FIRM)
foreign official dollar reserves (FRODOR)
foreign sector
foreign trade
foreign trade multiplier
forfaiting
forward market
forward rate
fractional reserve banking
fragmented industry
free enterprise
free entry
free market
free market price
free port
free rider
free trade
free trade agreement
free trade area
free trade zone
frictional unemployment
FTC
full employment
functional distribution of income
futures market
G-7
gains from trade
game theory
GAO
gas
gasoline
GATT
GDP
GDP deflator
GDP implicit price deflator
GDP per capita
General Agreement on Tariffs and Trade
general equilibrium
General Motors indicator
Generalized System of Preferences
Gini Coefficient
Gini index
global crowding out
Global Financial Centres Index
global financial stability report (GFSR)
global squeeze
Global Strategic Petroleum Reserves (GSPR)
GNP
GNP deflator
GNP gap
going Galt
gold
Gold Exchange Standard
goldilocks economy
good
goods
government
Government Accountability Office
government borrowing
government expenditure
government stimulus
gravity model
Great Depression
green shoots
gross domestic investment
Gross Domestic Product
gross investment
Gross National Debt
gross national income (GNI)
Gross National Product
Group Of Five Euro (G5)
Group Of Twenty-Four (G24)
group rotation
growth recession
GSP
hard commodity
hard landing
hawkish
headline inflation
headline risk
health economics
heavy crude oil
Heckscher-Ohlin Model
hedgelet
Her Majesty's Treasury
Herfindahl index
Herfindahl-Hirschman index (HHI)
high powered money
historical
holocaust restitution payments
hot money
housing starts
hyperinflation
hysteresis
IBRD
ICC
IDA
IFC
ILO
IMF
imperfect competition
implementation lag
import deposit
import duty
import penetration
import quota
import substitution
imported inflation
imports
in-bond system
income distribution
income effect
income replacement
inconvertible currency
INCOTERMS
incremental analysis
incremental capital output ratio (ICOR)
index
index number
index number problem
index of industrial production
index of leading indicators
indexed earnings
indicator
indifference curve
indirect competition
indirect labor costs
indirect material
induced taxes
industrial policy
industrial production
Industrial Production Index
industrialization
industry environment
industry standard
inefficient market
inelastic demand
inelastic supply
inelasticity
inequality
infant industry argument
inferior good
inflation
inflation derivatives
inflation rate
inflation risk
inflation swap
inflation targeting
inflation-adjusted return
inflation-linked certificates of deposit
inflation-protected annuity (IPA)
inflationary
inflexible expense
informal economy
information asymmetry
information symmetry
infrastructure
initial claims
initial jobless claims
input
inputs
Institute For Supply Management (ISM)
integrated financial market
integration
intensity
Inter-American Development Bank (IDB)
interest sensitive asset
interest sensitive liability
interest-rate sensitive
intermediate good

internal balance
international commodity agreement
international competitiveness
International Development Association
International Fisher Effect
international harmonization
international liquidity
International Monetary Fund (IMF)
international monetary market
international reserves
International Standard Industrial Classification
international standards organization (IOS)
international trade deficit
International Trade Organization
intraindustry trade
investment climate
investment multiplier
invisible
invisible account
invisible hand
invisible hard market
inwood annuity factor
IS-LM Model
ISIC
ISM manufacturing index
ISM Manufacturing Report On Business
ISM Non-Manufacturing Report On Business
Itayose method
J-curve
Jim Cramer
Job Creation and Worker Assistance Act of 2002 (JCWAA)
jobless claims
Jobs and Growth Tax Relief Reconciliation Act of 2003
jobs report
John Maynard Keynes
joint product
Journal of Commerce Index (JOC Index)
k-percent rule
Kennedy Round
key industry
Keynesian Economics
L
labor force
labor market
labor turnover
Laffer Curve
LAFTA
lagging indicator
laissez-faire
laissez-faire economics
landed cost
Latin American Free Trade Association
law of demand
law of diminishing marginal utility
Law of Diminishing Returns
law of supply
law of supply and demand
leading indicator
leading lipstick indicator
learning by doing
Leontief Paradox
less developed country
life cycle
light crude oil
limit pricing
liquefied petroleum gas
liquidity preference theory
liquidity trap
Little Dragons
LM-Curve
logarithm
long run
long-term capital
loose credit
Lorenz curve
Louvre Accord
Lucas critique
luxury
M0
M1
M2
M3
macro risk
macroeconomics
macroenvironment
maintenance markup
major currency
managed economy
managed float
managed trade
manufacturing cost
marginal
marginal analysis
marginal benefit
marginal cost pricing
marginal product
marginal profit
marginal propensity to consume
marginal propensity to import
marginal propensity to invest
marginal propensity to save
marginal rate of substitution
marginal rate of technical substitution
marginal rate of transformation
marginal revenue product
market basket
market clearing
market clearing price
market demand
market development index
market dynamics
market economy
market equilibrium
market failure
market follower
market forces
market fragmentation
market growth
market internalization advantages
market leader
market mechanism
market model
market niche
market opportunity
market opportunity analysis
market position
market power
market risk
market segment
market sentiment
market share
market size
market skimming pricing
market structure
market target
markup pricing
Marlboro Friday
Marshall Plan
Marshall-Lerner condition
Marxism
mass market
mature economy
mature market
McCallum rule
mean reversion
mechanism design
medium of exchange
men's underwear index
mercantile
mercantilism
MERCOSUR
merit goods
Merton Miller
MFA
MFN
microeconomics
microenvironment
microfinance
MIGA
migration
Miller and Modigliani's Irrelevance Proposition
Milton Friedman
minimum efficient scale
minimum wage
mint
misery index
mixed economy
MNC
modeling
monetarist
monetary base
Monetary Conditions Index (MCI)
monetary indicator
monetary policy
Monetary Policy Committee
monetary system
Monetary Union Index of Consumer Prices (MUICP)
monetary value
monetize
monetizing debt
Money Market Investor Funding Facility
money multiplier
money supply
Money Zero Maturity (MZM)
monopolistic competition
monopoly
monopsony
MRS
MSCI Emerging Markets Index
Mubadala Development Company
multilateral aid
Multilateral Investment Guarantee Agency
multiplier
multiplier effect
Mumtalakat Holding Company
Municipal Securities Rulemaking Board
NAIRU
NAPM index
Nash equilibrium
National Association of Purchasing Managers (NAPM)
National Association of Purchasing Managers index
national budget
National Bureau of Economic Research
National Debt
national debt clock
National Deficit
national income
national income accounting
National Trade Data Bank (NTDB)
nationalization
natural capital
natural capitalism
natural gas
natural resource
natural resources
natural wastage
NBER
NDP
necessities
negative NPV tie-in project
neoclassical economics
Net Domestic Product
net exports
net national product
New Economy
new home sales
New International Economic Order
new protectionism
NIC
niche
nickel
NIEO
NNP
nominal GDP
nominal income
nominal rate of protection
nominated advisor (NOMAD)
non-durable good
non-farm payroll
non-price competition
non-renewable resource
non-tariff barrier (NTB)
noncash payment instrument
nondiversifiable risk
normal good
numeraire
numismatics
NY Empire Manufacturing Index
Obamanomics
OECD
offer curve
Office of Financial Stability
official settlements account
official settlements balance
official unrequited transfers
offshore financial subsidiary
offshoring
oil price to natural gas ratio
oil refinery
oil reserves
oil sands
oligopoly
oligopsony
OLS
on consignment
open economy
open market operation
open market rates
operating rate
operational target
optimize
optimum
optimum tariff
optionaire
ordinary least squares
output
output gap
over-valued currency
overage
overheating
overvalued
panel data
panic
parallel economy
parameter
Pareto improvement
Pareto's Law
participation rate
peace dividend
peak
peg
pending home sales
per capita
per capita income
peril point
period certain
Personal Consumption Expenditures
personal inflation rate
petroleum
Phillips curve
planned economy
Plaza accord
point elasticity
policy instrument
political economy
political futures
population
positioning
positive sum game
poverty line
PPI
preferences
price basing
price ceiling
price competition
price discovery
price discrimination
price efficiency
price index
price level
price maker
price mechanism
price per flowing barrel
price stability
price system
price taker
pricing
pricing policy
primary industry
primary sector
private debt
private finance initiative (PFI)
private good
private sector
privatization
Producer Price Index
product life cycle
production function
production possibility frontier
productive efficiency
productivity
productivity report
profitable
project link
property rights
protectionism
public finance
public good
public goods
public sector
public sector net borrowing (PSNB)
public works project
Public-Private Investment Program (PPIP)
pump priming
purchasing power of the dollar
purchasing power parity theory
pure competition
quantity demanded
quantity theory of money
quartile
quasi money
quasi-rent
Quotation American Terms
Quotation European Terms
R&D
random variable
ratchet effect
rate of interest
Reaganomics
real economic growth rate
real exchange rate
real gain or loss
real GDP
recession
recession resistant
reciprocal demand
recognised clearing house
recognition lag
recovery
reduced form
reflation
regional aid
regional policy
regulatory system
renewable
rent seeking
resale
resale value
research and development
reserve currency
reserve replacement ratio (RRR)
reserves
restrictive credit policy
Retail Price Index
retail sales
retail sales index
returns to scale
revealed preference
Richmond Fed Manufacturing Index
rising prices
risk aversion
robust currency
RPI
Rubinomics
rules of origin
run up
rust belt
Rybczynski Theorem
S&L Crisis
S&P/Case-Shiller Home Price Index
sacrifice ratio
sale price
sales forecast
sales growth
same-store sales
Sarbanes-Oxley Act
satisficing
saturation
savings rate
scale
scarcity
seasonal credit rate
seasonality
seasonally adjusted
second best
secondary data
secondary sector
sector breakdown
sector ETF
secular
Securities Industry and Financial Markets Association
segment
self-sufficiency
seller's market
selling price
selling season
sensitivity
sequential
service
Shadow Open Market Committee (SOMC)
shadow price
shock
short run
silver
silver standard
silver Thursday
Single Market
skill
skirt length theory
skittish market
slowdown
sluggish economy
slump
smokestack industry
soaring markets
soccer mom indicator
social capital
social welfare function
socialism
socialization
soft landing
soft market
soft moat
sour crude oil
Special Drawing Rights
spend
spendthrift
spillover
Sports Illustrated swimsuit issue indicator
squeeze
SRO
stable market
stagflation
stagnation
standard error
standard of living
standard of living bubble
Starbucks index
status quo
statutory liquidity ratio
staying power
Stephen Ross
sterilization
sterling
sticky downward
stimulus package
stock market crash
stock market crash of 1987
stock valuation
stockpiling
Stolper-Samuelson Theorem
store of value
stratified sampling
stress test
strong dollar policy
structural adjustment
structural inflation
structural unemployment
subsidy
substitute
substitute goods
substitution effect
sugar no.11
Supplemental Security Income
Supplementary Financing Program
supply
supply and demand
supply curve
supply elasticity
supply schedule
supply shock
supply-side economics
supranational
surplus
sustainable competitive advantage
sustainable development
swap rate
sweet crude oil
systemic risk
tapering
tar sands
tastes
tax indexing
tax rebate
Taylor Rule
tech bubble
technical efficiency
technical progress
technological progress
technology
technology gap
technology transfer
tequila effect
Term Asset-Backed Securities Loan Facility
Term Auction Facility
Term Securities Lending Facility
term structure of interest rates
terms of trade
tertiary sector
Thomson Financial
throughput
tied aid
tiger economy
tight monetary policy
tight money
time inconsistency
time preference
time value of money
Tokyo International Financial Futures Exchange
Tokyo Round
topple rate
total factor productivity
total non-farm payrolls
trade balance
trade barrier
trade creation
trade deficit
trade diversion
trade liberalization
trade surplus
trade war
traditional economy
transformation curve
transnational corporation
transparency
Treasury
treasury budget
treasury general account (TGA)
Treaty of Rome
trickle-down theory
Troubled Assets Relief Program
UN
unbalanced growth
uncertainty
UNCTAD
undercast
underemployment
underemployment equilibrium
undervalued
undervalued currency
undiversifiable risk
UNDP
unemployed
unemployment
unemployment rate
unit of account
United Nations Conference on Trade and Development
United Nations Development Programme
University of Michigan Survey of Consumers
unsold inventory index
Uruguay Round
utilities sector
utility function
utility maximization
utility theory
value
value creation
value for money (VFM)
value in exchange
variable interest rate
veblen good
vehicle currency
velocity
VER
vertical equity
vertical integration
vertical market
voluntary export restraint
wage
wage price spiral
wage rate
wall of worry
Walras' Law
war babies
weak dollar policy
wealth
welfare
welfare criterion
welfare economics
welfare state
west texas crude
West Texas intermediate
wholesale inventories
wholesale price
work force
World Bank
World Trade Organization
worth
worthless
WTO
x-efficiency
year-over-year
yield management
yupcap
zero bound
zero interest rate policy
zero-sum game
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