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The supply of foreign
exchange less the demand for foreign exchange (excluding official
transactions in foreign exchange reserves and gold).
The combinations of
aggregate real income and the interest rate at which the demand and supply
for foreign exchange are equal (excluding official transactions in foreign
exchange reserves and gold).
A system in which official
intervention with foreign exchange reserves and gold was to be used to
maintain fixed foreign exchange rates in the face of temporary disturbances
to balance of payments equilibrium but in which fundamental disturbance were
to be met with foreign exchange rate adjustments.
A decrease in the value of a
currency relative to the value of other currencies.
The foreign exchange rates
under which a nation operates when it commits itself to maintain its
currency at a fixed value in relation to other currencies, except for
making adjustments to accommodate fundamental changes in its international
payments position.
The foreign exchange rates
under which a nation operates when it does not intervene in the foreign
exchange market with foreign exchange reserves and gold. It leaves exchange
rates free to respond to the forces of demand and supply.
Foreign currencies.
The market for foreign
currencies. Physically, it pyramids upon the operations of large banks and
specialized financial institutions in major international financial centers.
The price of a foreign
currency in terms of the domestic currency.
The increase in aggregate
output and real income which results from international trade and
specialization according to comparative advantage.
A tax on imported goods and
services. A tariff.
A tax that was imposed
during the 1960s and early 1970s on the interest and dividend income U.S.
residents received from foreign securities. Its purpose was to improve the
U.S. international payments balance by diminishing imports of such
securities.
A system in which government
intervenes to smooth out temporary fluctuations in foreign exchange rates
but permits the rates to vary in response to fundamental changes in
international payments positions.
Taxes imposed by government
on goods and services imported From abroad.
The number of units of a
specified mix of exports which must be given up for one unit of a specified
mix of imports.
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