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Global Economics (The Global Macroeconomy (Exchange Rate Crisis: How Pegs…
Global Economics
The Global Macroeconomy
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institutions - the overall legal, political, cultural, and social structures that influence economic and political actions
Floating rates - rate one that moves up and down over a much wider range, even on a weekly or daily basis, with no outward sign of control
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exchange rate crisis - a currency experiences a sudden and pronounced loss of value against another currency, following a period in which the exchange rate had been fixed or relatively stable
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National and International Accounts: Income, Wealth, Balance of Payments
trade balance (TB) - The difference between payments made for imports and payments received for exports
net factor income from abroad (NFIA) - The value of factor service exports minus factor service imports
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Net unilateral transfers (NUT) - the value of unilateral transfers the country receives from the rest of the world minus those it gives to the rest of the world.
gross domestic product (GDP) = the value of all intermediate and final goods and services produced as output by home firms, minus the value of all intermediate goods and services purchased as inputs by home firms.
gross national disposable income (GNDI) - GNI + NUT equals GNDI, which represents the total income resources available to the home country.
gross national expenditure (GNE) - the total expenditure on final goods and services by home consumers, businesses, and government in any given period (usually a calendar year, unless otherwise noted). GNE = C + I + G.
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