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LIMITED RESOURCES: Finite quantities of labor, capital, land, and entrepreneurship available to an economy for the production of goods and services. This is one half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is unlimited wants and needs.
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CAPITAL ACCOUNT, BALANCE OF PAYMENTS A subset of the balance of payments accounts that tracks the flow of currency and other monetary assets used to purchase financial and physical assets. This part of balance of payments tracks domestic investment in the foreign sector and foreign investment in the domestic sector. This is one of two primary subsets of the balance of payments. The other is the current account. A deficit or surplus in the capital account is matched by an opposite surplus deficit in the current account.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"God gives talent; work transforms talent into genius. " -- Anna Pavlova, ballerina
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AIBD
Association of International Bond Dealers (now called International Securities Market Association)
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