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Although there are many economic events that might be called crises, this term usually refers to a sudden drop in aggregate demand that, if prolonged, leads to recession.
Industry:Economy
A decision about an economic issue, most commonly about how to allocate resources among multiple purposes.
Industry:Economy
A variable that is measured and publicly reported and that is considered meaningful not only for itself but as a sign of how rapidly the larger economy is expanding or contracting.
Industry:Economy
A number summarizing the state of a country's international transactions, usually equal to the balance on current account plus the balance on financial account, but excluding official reserve transactions, or omitting also other volatile short-term financial-account transactions. It indicates the stress on a regime of pegged exchange rates.
Industry:Economy
1. Fairness and equity in economic affairs, presumably by having laws, governments, and institutions that treat people equally and avoid favoring particular individuals or groups. 2. As most often used, the term carries a connotation that economic justice can only be achieved by lessening the power and changing the practices of international financial institutions, transnational corporations, and rich-country governments.
Industry:Economy
A collection of assumptions, often expressed as equations relating variables, from which inferences can be derived about economic behavior and performance.
Industry:Economy
A country's receipts minus payments for capital account transactions.
Industry:Economy
A preference for supporting a country's own firms, industries, and workers -- and, in the case of firms and other assets, keeping them owned within the country -- even at the expense of the economic gains that it could have from trade and international investment.
Industry:Economy
A common market with the added feature that additional policies -- monetary, fiscal, welfare -- are also harmonized across the member countries.
Industry:Economy
A variation of the consumption Edgeworth Box that instead represents the allocations of 2 factors to 2 industries for use in production functions. Efficient allocations now appear as tangencies between isoquants, while the contract curve becomes the efficiency locus.
Industry:Economy
