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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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ASSUMPTIONS, PRODUCTION POSSIBILITIES The four key assumptions underlying production possibilities analysis are: (1) resources are used to produce one or both of only two goods, (2) the quantities of the resources do not change, (3) technology and production techniques do not change, and (4) resources are used in a technically efficient way.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store trying to buy either arch supports for your shoes or an AC adapter that works with your MPG player. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"An idea is never given to you without you being given the power to make it reality." -- Richard Bach, Author
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NPV
Net Present Value
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