Glossary

• absolute advantage
• actual deficit
• ad valorem
• aggregate
• aggregate demand
• aggregate supply
• annual receipts
• applied research
• appreciate
• appreciate
• arbitration
• articles of partnership
• atomistic competition
• automatic stabilizers
• backward integration
• balance of payments
• base year
• basic research
• bilateral aid
• blue-collar jobs
• bond
• bourgeoisie
• bourgeoisie
• broker
• budget authority
• business cycle
• businesses
• capital
• capital consumption allowance
• capital consumption allowance
• capital formation
• capital formation
• capital intensive
• capital intensive
• capital market
• cartel
• ceteris paribus
• change in demand
• change in quantity demanded
• change in quantity supplied
• change in supply
• change in supply
• circular flow model
• class struggle
• close corporation
• closed shop
• coincidental indicators
• collective bargaining
• common stock
• common stock
• comparative advantage
• comparative advantage
• complementary goods
• concentration ratio
• concession
• constant capital
• consumer price index (CPI)
• consumption expenditures
• consumption schedule
• cooperative
• coordinates
• copyright
• corporation
• correspondent bank
• cost
• cost-of-living adjustments (COLAs)
• cost-push inflation
• country of origin
• creative destruction
• credit
• credit unions
• current GDP
• cyclical deficit
• cyclical unemployment
• deficiency payments
• deficit
• deflation
• demand
• demand deposits
• demand-pull inflation
• demand schedule
• dependent variable
• depreciate
• depreciation
• derived demand
• determinants of demand
• determinants of supply
• devalue
• developed nations
• developing nations
• dialectical materialism
• dictatorship of the proletariat
• diffusion
• diminishing marginal utility
• discount rate
• discouraged workers
• discretionary spending
• disintermediation
• disposable income
• distant sale
• divestiture
• dividend
• division of labor
• double coincidence of wants
• downstream
• durable goods
• easy money
• econometric models
• economic growth
• economic scarcity
• economy of scale
• elastic demand
• entrepreneur
• equation of exchange
• equilibrium
• ethical drugs
• European Union
• exchange rate
• excise tax
• externality
• factor market
• factor recipe
• factors of production
• fallacy of composition
• favorable balance of trade
• federal debt
• Federal Deposite Insurance Corp (FDIC)
• federal funds market
• Federal Open Market Committee (FOMC)
• federal receipts
• Federal Reserve
• financial infrastructure
• financial intermediaries
• fiscal policy
• fiscal year (FY)
• fixed costs
• fixed exchange rates
• floating exchange rates
• flow
• foreign direct investment (FDI)
• foreign exchange
• forward integration
• fractional reserve system
• franchise
• frictional unemployment
• full employment
• goods
• gross domestic product (GDP)
• gross investment
• gross national product (GNP)
• horizontal integration
• horizontal merger
• horizontal organization
• households
• human capital
• import quota
• incidence of a tax
• increasing returns to scale
• independent variable
• industrial organization
• industry
• inelastic demand
• inferior goods
• inflation
• inflation rate
• information infrastructure
• infrastructure
• injunction
• interest
• interest rate
• inventory
• inverse relationship
• joint venture
• L
• labor
• labor-intensive
• labor theory of value
• lagging indicators
• laissez-faire
• land
• land-intensive
• law of diminishing returns
• law of downward-sloping demand
• law of increasing costs
• law of supply
• leading indicators
• leakage
• limited partner
• liquidity
• Lorenz curve
• M1
• M2
• M3
• macroeconomic
• maintaining an orderly market
• margin requirement
• marginal
• marginal output
• marginal propensity to consume
• marginal propensity to save
• market
• market system
• mass production
• means of production
• median
• mediation
• microeconomics
• minimum wage
• mixed economy
• model
• monetarist
• monetary policy
• money fixed assets
• money market
• money market funds
• monopolistic competition
• monopoly
• most favored nation (MFN) treatment
• multifiber arrangements
• multilateral aid
• multiple expansion of demand deposits
• multiplier
• mutual company
• mutual fund
• National Credit Union Administration
• national income (NI)
• natural monopoly
• negative externality
• net domestic product (NDP)
• net importer
• net income
• net national product (NNP)
• nominal money
• non-price competition
• nondurable goods
• nonrenewable resources
• normal goods
• normative economics
• NOW accounts
• Okunæäóîíšs Law
• oligopoly
• open corporation
• open market operations
• opportunity cost
• outlays
• parity
• participation rate
• partnership
• patent
• pension fund
• per capita
• perfect competition
• personal income
• Phillips Curve
• portfolio
• positive economics
• positive externality
• positive relationship
• poverty rate
• precautionary motive
• preferred stock
• price
• price ceiling
• price-earning (PE) ratio
• price leadership
• price level
• price maker
• price system
• price taker
• primary market
• primary offering
• prime rate
• private return
• producer goods
• producer services
• product differentiation
• product market
• production
• production possibilities graph
• productivity
• profit
• progressive tax
• proletariat
• proportional tax
• proprietary drugs
• prospectus
• public sector services
• quantitative easing
• rational expectations
• real GDP
• real wage
• recession
• regressive tax
• Regulation Q
• renewable resources
• rent
• research and development
• retail
• revalue
• revenue
• royalties
• Rule of 70
• running the books
• sales tax
• saving
• savings accounts
• savings and loan associations
• Savings Association Insurance Fund
• secondary market
• secondary offering
• seniority
• services
• share draft accounts
• shift
• social return
• sole proprietorship
• specialists
• specialization
• speculative
• speculative motive
• stagflation
• sticky prices
• stock
• stockholders
• structural deficit
• structural unemployment
• Subchapter S corporation
• supply
• surplus value
• syndicate
• tariff
• technology
• thrifts
• tight money
• time accounts
• transactions motive
• transfer payment
• transportation infrastructure
• treasury bills
• treasury bonds
• treasury notes
• trough
• underground economy
• underwrite
• unemployment
• unemployment rate
• union shop
• unlimited liability
• upstream
• utility
• variable capital
• variable costs
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• velocity
• venture capital
• vertical integration
• wages and salaries
• white-collar jobs
• wholesale
• windfall profits tax
• yield

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