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Home Dictionary E Economic Recovery Economic recovery is the process of reallocating resources and workers from failed businesses and investing in new jobs and uses after a recession. The economic recovery follows the recession and leads to a new phase of the expansionary economic cycle. Leading indicators such as the stock market, retail sales and business openings often rise before the economy recovers. Public policy can sometimes help or hinder the process of economic recovery. During economic recovery, central banks may pursue monetary policy aimed at increasing the money supply and encouraging lending. Kenneth Arrow
September 25, 2022 Kenneth Arrow was a neoclassical economist known for his extensive contributions to microeconomic and macroeconomic theory. Lost Decade
September 25, 2022 “The Lost Decade” originally referred to a long period of slow or negative economic growth lasting nearly ten years in the Japanese economy during the 1990s. Abenomics
September 25, 2022 Abenomics is a set of economic policies championed by Japanese Prime Minister Shinzo Abe when he came to power for the second time in 2012. Absolute Advantage
September 25, 2022 An absolute advantage is when a manufacturer can provide a greater quantity of a product or service for the same price or the same quantity at a lower price than its competitors. Adhesion Contract
September 25, 2022 Affiliation contracts are “take it or leave it” agreements where you have to accept or reject the contract as a whole. Adjudication
September 25, 2022 Litigation is the process by which the judge of the court resolves disputes between two parties. Aggregate Demand
September 25, 2022 Aggregate demand measures the total demand for all finished goods and services produced in an economy. Aggregate Supply
September 25, 2022 All goods produced at a certain price in a certain period represent the aggregate supply. Asset Protection
September 25, 2022 Asset protection refers to the strategies used to protect one’s wealth from taxation, confiscation or other losses. Autarky
September 25, 2022 Autarky refers to a state of self-sufficiency and is commonly used to describe countries or economies that seek to reduce their dependence on international trade. Balance of Payments (BOP)
September 25, 2022 The balance of payments includes both the current account and the capital account. Balance of Trade (BOT)
September 25, 2022 The balance of trade (BOT) is the difference between the value of a country’s imports and exports over a given period and is the largest component of a country’s balance of payments (BOP). Barriers to Entry
September 25, 2022 Barriers to entry describe high start-up costs or other barriers that prevent new competitors from easily entering an industry or area of business. Barter
September 25, 2022 Barter is the exchange of goods and services between two or more parties without the use of money. Base Effect
September 25, 2022 Base effect refers to the effect that the choice of base of comparison or benchmark can have on the result of a comparison between data points. Best Endeavors
September 25, 2022 “Best Effort” is a legal term that represents the obligation of a party to a contract to take all possible steps to fulfill the terms of the agreement. Boom And Bust Cycle
September 25, 2022 The boom and bust cycle describes the alternating phases of economic growth and recession that characterize modern capitalist economies. Bretton Woods Agreement and System
September 25, 2022 The Bretton Woods Agreement and the system created a collective international currency exchange regime that operated from the mid-1940s to the early 1970s. Buyer's Market
September 25, 2022 A buyer’s market refers to a situation in which buyers have an advantage over sellers in price negotiations. Circular Flow Of Income
September 25, 2022 The circular flow model demonstrates how money moves from producers to households and back in an endless cycle. Collusion
September 25, 2022 Collusion occurs when entities or individuals work together to influence the market or pricing in their own interest. Comparative Advantage
September 25, 2022 Comparative advantage is the ability of an economy to produce a particular good or service at a lower opportunity cost than its trading partners. Contractionary Policy
September 25, 2022 Containment policies are macroeconomic instruments designed to combat economic distortions caused by an overheated economy. Cost-Push
September 25, 2022 Cost-push inflation occurs when general prices rise (inflation) due to an increase in the cost of wages and raw materials.# Cross Elasticity of Demand
September 25, 2022 Cross elasticity of demand is an economic concept that measures the response of the quantity demanded of one good to a change in the price of another good.