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5 Cards in this Set
- Front
- Back
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Trade deficit
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The amount by which a nation's imports of goods (or goods and services) exceed its exports of goods (or goods and services)
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Trade surplus
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The amount by which a nation's exports of goods (or goods and services) exceed its imports of goods (or goods and services)
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Flexible-or floating-exchange-rate system
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A rate of exchange determined by the international demand for and supply of a nation's money; a rate free to rise or fall (to float)
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gold standards
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Fixed exchange rates in which nations defined their currencies in terms of gold, maintained a fixed relationship between their stocks of gold and their money supplies, and allowed gold to be freely exported and imported.
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International Monetary Fund (IMF)
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The international association of nations that was formed after the second world war to make loans of foreign monies to nations with temporary payments deficits and to administer the adjustable pegs. It now mainly makes loans to nations facing possible defaults on private and government loans.
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