Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
| An international trade agreement that has taken bold steps to lower tariffs and promote free trade worldwide (the first of its' kind). |
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| Government efforts to influence the economy through taxation and spending. |
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| Federal Reserve decisions that shape the economy by influencing interest rates and the supply of money. |
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| All currency plus checking accounts and traveler's checks (no credit cards). |
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| All of M1 plus most savings accounts, money market accounts, and certificates of deposit (still no credit cards). |
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| The Federal Reserve function of buying and selling government securities, which include treasury bonds, notes, and bills. |
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Term
| Degrees of Competition (5 market structures) |
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Definition
| Pure competition (purely identical products), monopolistic competition (clothing), oligopoly (auto industry), monopoly (water, cable), natural monopoly |
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Definition
| GDP, CPI (% change of price of goods consumers buy), PPI (% change of resources a producer would buy), Unemployment rate, Productivity |
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| World Trade Organization (WTO) |
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Definition
| A permanent global institution to promote international trade and to settle international trade disputes. |
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Definition
| International cooperative of 185 countries, working together to reduce poverty in the developing world (loans to less developed countries). |
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| International Monetary Fund (IMF) |
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Definition
| International cooperative of 185 member countries working on stabilizing currency. |
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| Goods and Services divided by inputs. |
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Definition
| Right to Be Safe, Right to Be Informed, Right to Choose, Right to Be Heard |
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Definition
| The strategy of deliberately designing products to fail in order to shorten the time between purchases (Apple). |
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Definition
| Federal Legislation passed in 2002 that sets higher ethical standards for public corporations and accounting firms. Key provisions limit conflict-of-interest issues and require financial officers and CEOs to certify the validity of their financial statements. |
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Definition
| A corporate restructuring in which one firm buys another (they acquire everything, Southwest acquired Continental). |
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| A corporate restructuring that occurs when two formerly independent business entities combine to form a new organization. |
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| The transfer of total or partial ownership of some of a firm's assets to investors or to another company (one company disinvests). |
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| seeks franchisor permission |
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| separate entity from owners, if an owner dies, the company persists (Disney). |
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| Individuals who invest in start-up companies with high growth potential in exchange for a share of ownership |
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