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BALANCE OF TRADE DEFICIT: An imbalance in a nation's balance of trade in which the payments for merchandise imports made by the country exceed payments for merchandise exports received by the country. This is also termed an unfavorable balance of trade. It's considered unfavorable because more goods are imported into the country than are exported out, meaning that domestic production is replaced with foriegn production, which then reduces domestic employment and income. A balance of trade deficit is often the source of a balance of payments deficit.
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ADVERSE SELECTION An inefficient, bad, or adverse outcome of a market exchange that results because buyers and/or sellers make decisions based on asymmetric information. This commonly results in a market that exchanges a lesser quality good, what is termed the market for lemons. Two related problems resulting from asymmetric information are moral hazard and the principal-agent problem. Two methods of lessoning the problem of adverse selection are signalling and screening.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"It is only our deeds that reveal who we are. " -- Carl Jung, psychiatrist
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MPS
Marginal Propensity to Save
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