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BALANCE OF TRADE: The difference between funds received by a country when exporting merchandise and the funds paid for importing merchandise. The balance of trade is a major part of the current accounts portion of the balance of payments. A balance of trade surplus results if exports exceed imports, commonly termed a favorable balance of trade, and a balance of trade deficit exists if imports exceed exports, analogously termed an unfavorable balance of trade. The "favorable" and "unfavorable" normative connotations attached to the balance of trade rests with the presumption that a nation is "better off" when it exports more than it imports, which is not necessarily true.
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SLOPE, INVESTMENT LINE The positive slope of the investment line is also termed the marginal propensity to invest (MPI). This slope is greater than zero but less than one, reflecting induced investment. The slope of the investment line affects the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.
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Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for telephone calls from former employers.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"Most human beings have an almost infinite capacity for taking things for granted. " -- Aldous Huxley, writer
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DW
Durbin-Watson
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