- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
- Company Profile:
A good the demand for which rises with income if relative prices do not change. Contrasts with inferior good.
Industry:Economy
A model of interaction between a multinational enterprise and a host country government, which initially reach a bargain that favors the MNE but where, over time as the MNE's fixed assets in the country increase, the bargaining power shifts to the government. Due to Vernon (1971).
Industry:Economy
A curve showing, for a two-good model, the quantity of one good that a country will export (or "offer") for each quantity of the other that it imports. Also called the reciprocal demand curve, it is convenient for representing both exports and imports in the same curve and can be used for analyzing tariffs and other changes.
Industry:Economy
An approximate linear relationship between unemployment and real GDP, proposed by Arthur Okun: that for every percentage point drop in the unemployment rate, real GDP rises 3%.
Industry:Economy
A market structure in which there are a small number of sellers, at least some of whose individual decisions about price or quantity matter to the others.
Industry:Economy
A free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods can be produced within a single country, and there is only one diversification cone. This will arise if countries' factor endowments are sufficiently similar compared to factor intensities of industries. Contrasts with multi-cone equilibrium.
Industry:Economy
A characterization of the Kaldor-Hicks welfare criterion normally used in evaluating trade policies and more generally in cost-benefit analysis, based on a sum of monetary values including consumer and producer surplus.
Industry:Economy
A "multilateral financial facility to channel OPEC aid to developing countries. "
Industry:Economy
1. Any measure of openness. 2. The ratio of a country's trade (exports plus imports) to its GDP.
Industry:Economy
