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Economic Terms #4

カード 34枚 作成者: Sean (作成日: 2013/12/04)

  • Exchange Rate

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  • 1

    Exchange Rate

    補足(例文と訳など)

    答え

    • The value of one nation's currency relative to the currencies of other countries.

    解説

  • 2

    The J-Curve Effect

    補足(例文と訳など)

    答え

    • With reference to the Marhsall-Lerner condition, the J-Curve states even if PED of imports and exports are larger than 1, the balance of payments will initially worsen before improving.

    解説

  • 3

    Depreciation

    補足(例文と訳など)

    答え

    • a decrease in the value of a currency as measured by the amount of foreign currency it can buy

    解説

  • 4

    Exchange Controls

    補足(例文と訳など)

    答え

    • governmnet restrictions on the amount of a particular currency that can be bought or sold

    解説

  • 5

    Purchasing Power Parity

    補足(例文と訳など)

    答え

    • a measure of how many units of currency are needed in one country to buy the amount of goods and services that one unit of currency will buy in another country

    解説

  • 6

    Declining Industry

    補足(例文と訳など)

    答え

    • industry in which economic profits are negative (losses incurred). will decrease its output as firms leave

    解説

  • 7

    Customs Union

    補足(例文と訳など)

    答え

    • a free trade alliance of nations that share common external tariffs

    解説

  • 8

    Revaluation

    補足(例文と訳など)

    答え

    • An increase in the official value of a currency (in a fixed-exchange-rate system).

    解説

  • 9

    Dirty Float Exchange Rate

    補足(例文と訳など)

    答え

    • A system under which a country's currency is nominally allowed to float freely against other currencies, but in which the government will intervene if it believes the currency has deviated too far from its fair value

    解説

  • 10

    Subsidy

    補足(例文と訳など)

    答え

    • can be imposed on domestic goods to lower their prices, making them internationally more competitive, or can be imposed on exports to make the good cheaper for consumers overseas, and therefore be competitive in markets abroad

    解説

  • 11

    Protectionism

    補足(例文と訳など)

    答え

    • the policy of imposing duties or quotas on imports in order to protect home industries from overseas competition

    解説

  • 12

    Quota

    補足(例文と訳など)

    答え

    • a limitation on imports

    解説

  • 13

    Free Trade Area

    補足(例文と訳など)

    答え

    • an organization of nations whose members have no trade barriers among themselves but are free to fashion their own trade policies toward nonmembers

    解説

  • 14

    Antidumping

    補足(例文と訳など)

    答え

    • Argument against free trade that states exporting a good or service at a price below its cost of production in an attempt to eliminate domestic competition, protect domestic firms from underpriced imports

    解説

  • 15

    World Trade Organization (WTO)

    補足(例文と訳など)

    答え

    • WTO an entity that promotes free trade among members nations by eliminating trade barriers and educating individuals companies and governments about trade rules around the world

    解説

  • 16

    Complete economic integration

    補足(例文と訳など)

    答え

    • Common market plus policy, money

    解説

  • 17

    Floating Exchange Rate

    補足(例文と訳など)

    答え

    • An exchange rate system in which a currency's value is allowed to fluctuate in response to market forces.

    解説

  • 18

    Comparative Advantage

    補足(例文と訳など)

    答え

    • the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.

    解説

  • 19

    Preferential Trading Area

    補足(例文と訳など)

    答え

    • No tariff on certain named products

    解説

  • 20

    Devaluation

    補足(例文と訳など)

    答え

    • an official lowering of a nation's currency

    解説

  • 21

    Capital Flights

    補足(例文と訳など)

    答え

    • When residents and nonresidents rush to convert their holdings of domestic currency into a foreign currency, usually taking place when domestic currency is depreciating rapidly or a counry is facing dim economic prospects.

    解説

  • 22

    Trading Blocs

    補足(例文と訳など)

    答え

    • groups of countries with formalized systems of trading agreements

    解説

  • 23

    Common Market

    補足(例文と訳など)

    答え

    • group of countries that has eliminated tariffs and harmonized trading rules to facilitate the free flow of goods among the member nations

    解説

  • 24

    Marshall-Lerner condition

    補足(例文と訳など)

    答え

    • Devaluation of a currency does not necessarily improve the trade balance, as it depends on the sum of the Price Elasticity of Demand (PED) of exports and imports. If the sum is larger than 1, then the trade deficit will improve.

    解説

  • 25

    Terms of Trade

    補足(例文と訳など)

    答え

    • The amount of an exported good that must given up to obtain an imported good - measured by the ratio of a country's export prices to its import prices.

    解説

  • 26

    Voluntary export restraints

    補足(例文と訳など)

    答え

    • agreements in which exporting countries voluntarily (actually under pressure) agreed to limit exports or specific products

    解説

  • 27

    Tariffs

    補足(例文と訳など)

    答え

    • taxes imposed by a government on imported or exported goods

    解説

  • 28

    Absolute Advantage

    補足(例文と訳など)

    答え

    • the ability of an individual, firm, or country to produce more of a good or service than competitors using the same amount of resources.

    解説

  • 29

    Infant Industry

    補足(例文と訳など)

    答え

    • a young industry that may need temporary protection from competition from the established industries of other countries to develop an aquired comparative advantage

    解説

  • 30

    Appreciation

    補足(例文と訳など)

    答え

    • an increase in the value of a currency as measured by the amount of foreign currency it can buy

    解説

  • 31

    Fixed Exchange Rate

    補足(例文と訳など)

    答え

    • rate of exchange between currencies pegged within a narrow range and maintained by the central bank's ongoing purchases and sales of currencies

    解説

  • 32

    Import Licensing

    補足(例文と訳など)

    答え

    • The need for a special license to trade

    解説

  • 33

    Embargo

    補足(例文と訳など)

    答え

    • a complete ban on trade, imposed either by the exporting country or the importing country.

    解説

  • 34

    Economic and Monetary Union

    補足(例文と訳など)

    答え

    • aspect of the European Union designed to integrate economic and monetary policies and establish the euro as a single currency; created by the 1992 Maastricht Treaty and officially came into existence in 1999

    解説

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