International Economics |
Common terms and phrases
abroad adjustment agriculture analysis arbitrage balance of payments balance-of-payments banks borrowing Britain British capital movements Chapter commodity comparative advantage competition consumer consumption coun currency customs union deficit demand and supply depreciation direct investment dollars domestic dumping economists effect efficient elasticity equilibrium Europe European exchange rate expenditure factor prices factor proportions Figure finance firms foreign exchange foreign exchange market free trade gains from trade gold growth higher improve increase indifference curve industry interest rates International Economics international trade labor less developed countries limited loans manufactures marginal ment monetary monopoly national income nomic offer curve Opportunity Costs optimum percent position problem production possibilities curve profits QUANTITY quotas reduce revenue sell shift speculation surplus tariff terms of trade theory tion trade creation trade diversion transport costs United welfare wheat wheat and cloth yards of cloth York θα