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A price index for the goods purchased by consumers in an economy, usually based on only a small sample of what they consume. Commonly used to measure inflation. Contrasts with the implicit price deflator.
Industry:Economy
A statement of principle as to acceptable behavior. For example, members of the International Labor Organization have agreed to a long list of conventions regarding the acceptable treatment of workers.
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
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 measure of the extent to which two economic or statistical variables move up and down together. For two variables ''x'' and ''y'' with values ''x<sub>i</sub>'', ''y<sub>i</sub>'', ''i=''1,…,''n'', the covariance is cov(''x'',''y'') = ''<sub>i''=1…''n</sub>''(''x<sub>i</sub>''-m(''x''))(''y<sub>i</sub>''-m(''y'')), where m(•) is the mean of the values in its argument.
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 exchange rate between two currencies as implied by their values with respect to a third currency. 2. Thus, since most currencies are commonly quoted in U. S. Dollars, the exchange rate between any two currencies other than the dollar.
Industry:Economy
1. In an anti-dumping case against imports from more than one country, the summation of these imports for the purpose of determining injury. That is, the imports are deemed to have caused injury if all of them together could have done so, even if individually they would not. 2. In overlapping free trade areas, a provision that allows inputs from one FTA to qualify as originating under another FTA's rules of origin.
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 group of countries that share a common currency. Originally defined by Mundell (1961) as a group that have fixed exchange rates among their national currencies.
Industry:Economy
