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FORECASTING: The process of anticipating and predicting economic conditions months or years before fact using statistical estimation techniques the model economic activity. Forecasting most often employs sophisticated mathematical models (with hundreds equations). However, specific measures (such as the stock market) or composite indexes that have been shown to lead economic activity (that is, leading economic indicator) are also effectively used for forecasting.
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BALANCE OF PAYMENTS A comprehensive set of accounts that tracks the flow of currency and other monetary assets coming in to and going out of a nation. These payments are used for international trade, foreign investments, and other financial activities. The balance of payments is divided into two accounts -- current account (which includes payments for imports, exports, services, and transfers) and capital account (which includes payments for physical and financial assets). A deficit in one account is matched by a surplus in the other account. The balance of trade is only one part of the overall balance of payments set of accounts.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for jovial bank tellers.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
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DDA
Demand Deposits Accounts
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