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NATURAL UNEMPLOYMENT RATE: The rate of unemployment that occurs when the economy is at full employment. This rate is primarily composed of frictional and structural unemployment.
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BALANCE OF TRADE SURPLUS The positive difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade surplus is the official term for positive net exports that occurs when exports exceed imports. A balance of trade surplus is also termed a "favorable" balance of trade because it results in a net inflow of monetary payments into the domestic economic from the foreign sector, which tends to be beneficial to a country. The alternative is a balance of trade deficit in which imports exceed exports.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"It is not fair to ask of others what you are unwilling to do yourself. " -- Eleanor Roosevelt, diplomat, activist
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D
Demand
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