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BUSINESS TRANSFER PAYMENTS: A payment by the business sector to the household sector without any corresponding production or expectations of production. Business transfer payments are essentially gifts, or subsidies, made to the household sector from the business sector. This is one of several key differences between national income (the resource cost of production) and gross/net domestic product (the market value of production). For further discussion of this point, see gross domestic product and national income or net domestic product and national income. business transfer payments, abbreviated BTP, tend to be quite small, invariably less than 1% of gross domestic product.
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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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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"Always remember that striving and struggle precede success, even in the dictionary. " -- Sarah Ban Breathnach, writer
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BJE
Bell Journal of Economics
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