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NOMINAL: The actual dollar price of stuff when it's bought or sold. The contrast is with the term real, which is actual value adjusted for price changes or inflation.
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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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ORANGE REBELOON [What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for malfunctioning pocket calculators. Your Complete Scope
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"Nothing great has ever been achieved except by those who dared believe that something inside them was superior to circumstances. " -- Bruce Barton, Advertising executive
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EJ Economic Journal
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