July 2014
Beginner
224 pages
3h 48m
English
Content preview from A Concise Guide to Macroeconomics, Second Edition
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GLOSSARY
actual output
See potential output.
aggregate price level
See price level.
balance of payments (Bop) accounts
Summary record of a country's cross-border transactions, typically over a given year. See also current account, financial account.
balance on goods and services
Exports of goods and services minus imports of goods and services, where “goods” refers to tangible products (merchandise) and “services” refers to intangible products (such as shipping, investment banking, or consulting services). See also trade balance.
bank run
A scenario in which a large proportion of a bank's depositors try to withdraw their funds at the same time, potentially “breaking” the bank (i.e., forcing it into default).
bubble (or speculative mania)
A steep ...
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