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A currency that is shared by more than one country. Thus the currency of a currency area.
Industry:Economy
A group of countries that eliminate all barriers to movement of both goods and factors among themselves, and that also, on each product, agree to levy the same tariff on imports from outside the group. Equivalent to a customs union plus free mobility of factors.
Industry:Economy
1. Applied to a market or industry, this usually means perfectly competitive. Contrasts with imperfectly competitive. 2. Applied to a firm or the products of a country, this usually means having low price, high quality, or other characteristics that make it attractive to purchasers compared to products from other firms or countries. See competitiveness.
Industry:Economy
A country that has signed the GATT. The term Contracting Parties with both words capitalized means all Contracting Parties acting jointly.
Industry:Economy
A tax on the profits of corporations. Differences in corporate tax rates across countries can be a cause of foreign direct investment as well as transfer pricing.
Industry:Economy
A currency that can legally be exchanged for another or for gold. In times of crisis, governments sometimes restrict such exchange, giving rise to black market exchange rates.
Industry:Economy
1. Recorded as positive (+) in the balance of payments, any transaction that gives rise to a payment ''into'' the country, such as an export, the sale of an asset (including official reserves), or borrowing from abroad. Opposite of debit. 2. A loan. For example, a trade credit.
Industry:Economy
1. The money used by a country; e. G. , the national currency of Japan is the yen. 2. The physical embodiment of money, in the forms of paper bills or notes, and metal coins.
Industry:Economy
A country's international transactions arising from current flows, as opposed to changes in stocks which are part of the capital account. Includes trade in goods and services (including payments of interest and dividends on capital) plus inflows and outflows of transfers.
Industry:Economy
A geographic area that is responsible for levying its own customs duties at its border.
Industry:Economy
