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Home Dictionary N National Insurance Contributions (NIC) National Insurance Contributions are taxes paid by employees and employers in the UK. National Insurance is an umbrella term for universal health care, government pensions, and unemployment benefits. Employees can make additional voluntary payments to increase the amount of pension they are ultimately entitled to. 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. Affirmative Action
September 25, 2022 Affirmative action aims to reverse historical trends of discrimination against individuals with certain identities. Affordable Care Act
September 25, 2022 The Affordable Care Act was signed into law in March 2010 and is commonly known as “Obamacare”. Americans with Disabilities Act (ADA)
September 25, 2022 The Americans with Disabilities Act (ADA) was passed in 1990 to prevent discrimination against people with disabilities in the workplace and in employment. Anti-Dumping Duty
September 25, 2022 An anti-dumping duty is a protective tariff that a country’s government imposes on foreign imports that it judges to be below fair market value. Antitrust
September 25, 2022 Antitrust laws have been designed to protect and encourage competition in all sectors of the economy. Article 50
September 25, 2022 Article 50 is a clause in the Lisbon Treaty of the European Union that describes how a country can voluntarily leave the bloc. 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. Bicameral System
September 25, 2022 A bicameral system is a style of government with two separate divisions within the legislative branch. Bilateral Trade
September 25, 2022 Bilateral trade agreements are agreements between countries aimed at promoting trade and commerce. Budget Deficit
September 25, 2022 A budget deficit occurs when spending exceeds income. Build-Operate-Transfer Contract
September 25, 2022 A Build-Operate-Transfer (BOT) contract is a model used to finance large projects, usually infrastructure projects, developed through a public-private partnership. Bureaucracy
September 25, 2022 The word “bureaucracy” implies a complex structure with many levels and procedures. Cap and Trade
September 25, 2022 Energy quota and trading programs are designed to progressively reduce pollution by giving companies an incentive to invest in cleaner alternatives. Capital Gain
September 25, 2022 Capital gain is the increase in the value of fixed capital that is realized when an asset is sold. Capitalism
September 25, 2022 Capitalism is an economic system characterized by private ownership of the means of production, especially in the industrial sector, in which labor is paid only according to wages. Carbon Credit
September 25, 2022 Carbon credits were developed as a mechanism to reduce greenhouse gas emissions. Clayton Antitrust Act
September 25, 2022 The Clayton Antitrust Act of 1914 continues to govern US business practices today. Communism
September 25, 2022 Communism is an economic ideology that advocates a classless society in which all property and wealth belongs to the community and not to individuals. Corporate Tax
September 25, 2022 Corporate taxes are collected by the state as a source of income. Deposition
September 25, 2022 Testimony is evidence given under oath and recorded in writing by an authorized officer of the court, usually out of court and before trial. Discount Rate
September 25, 2022 The term “discount rate” can refer to either the interest rate the Federal Reserve charges banks for short-term loans or the rate used to discount future cash flows in a discounted cash flow (DCF) analysis. Domicile
September 25, 2022 Residence refers to the place you call home permanently. Effective Tax Rate
September 25, 2022 The effective tax rate is the percentage of taxable income that individuals pay in taxes. Egalitarianism
September 25, 2022 Egalitarianism is a philosophy based on equality, namely that all people are equal and deserve equal treatment in everything.