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ANTIDUMPING DUTY: A tariff levied by an imported country (presumably) being the target of foreign dumping. Since dumping implies selling a good to a foreign country at a price below production cost, the antidumping duty is intended to offset the 'unfair' advantage that the foreign seller obtains by selling below cost. The antidumping duty raises the domestic price of the good to the level that the foreign producer would charged if true costs were considered.
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BALANCE OF PAYMENTS A comprehensive set of accounts that tracks the flow of currency and other monetary assets coming in to and going out of a nation. These payments are used for international trade, foreign investments, and other financial activities. The balance of payments is divided into two accounts -- current account (which includes payments for imports, exports, services, and transfers) and capital account (which includes payments for physical and financial assets). A deficit in one account is matched by a surplus in the other account. The balance of trade is only one part of the overall balance of payments set of accounts.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store trying to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Success is liking yourself, liking what you do, and liking how you do it." -- Maya Angelou, Poet and Author
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AER
American Economic Review
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