Current Account Deficit
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A current account deficit occurs when a country spends more money on the goods and services it imports than it receives for the goods and services it exports.
Perfect competition is an economic idea that does not exist in the real world but can be used as a standard to measure the efficiency and effectiveness of real world markets.
Many of today's democracies operate under what is known as a mixed economic system, which combines aspects of capitalism and socialism.
GDP stands for gross domestic product and is the measure of the total economic output of the goods and services of a country.
The Big Mac Index is an informal way to gauge the values of currencies around the world against the U.S. dollar.
A financial market with declining asset prices fueled by investors’ pessimism, lack of confidence and negative expectations. While bear markets are partly based on actual investment performance, they are also partly based on investor psychology.
Purchasing Power Parity (PPP) compares different countries' currencies through a market "basket of goods" approach. Two currencies are in PPP when a market basket of goods (taking into account the exchange rate) is priced the same in both countries.
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