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An economic theory that defines wealth by the amount of precious metals owned. [56] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [57] The length of a business cycle is the period of time containing a single boom and contraction ...
The New Palgrave: A Dictionary of Economics. The New Palgrave: A Dictionary of Economics (1987) is the title of the first New Palgrave edition. It is a four-volume reference edited by John Eatwell, Murray Milgate, and Peter Newman. It has 4,000 pages of entries, including 1,300 subject entries (with 4,000 cross-references), and 655 biographies.
e. In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money.
Exchange economy. Exchange economy is technical term used in microeconomics research to describe interaction between several agents. In the market, the agent is the subject of exchange and the good is the object of exchange. Each agent brings his/her own endowment, and they can exchange products among them based on a price system.
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation ). [ 1][ 2] Further purposes of a monetary policy may be to contribute to economic ...
t. e. Finance refers to monetary resources and to the study and discipline of money, currency, assets and liabilities. [ a ] As a subject of study, it is related to but distinct from economics, which is the study of the production, distribution, and consumption of goods and services. [ b ] Based on the scope of financial activities in financial ...
In economics, crowding out is a phenomenon that occurs when increased government involvement in a sector of the market economy substantially affects the remainder of the market, either on the supply or demand side of the market. One type frequently discussed is when expansionary fiscal policy reduces investment spending by the private sector.
v. t. e. International political economy ( IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. [ 1] A key focus in IPE is on the power of different actors such as nation states, international organizations and multinational corporations to shape the international economic system and the ...