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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Gains of Exchange: The difference between the relative values of a good to the buyer and the seller. How this difference is divided between buyer and seller will depend upon the price of the good. Exchange will not occur unless both the buyer and the seller expect to receive some of this gain.
GNP Deflator: Measure of the percentage increase in the average price of products in GNP over a certain base year (now 1972) published by the Commerce Department.
Gold exchange standard : A variant form of the gold standard under which a country pegged the value of its currency to the value of the currency of a 'major' country, e.g. sterling or dollars, which was itself on a gold standard. The international monetary regime in force between 1958 and 1970 is frequently described as a gold exchange standard system because of the wide use of the dollar, itself pegged to gold, as a reserve currency and as an accepted medium of exchange internationally.
Gold standard : A monetary system in which currencies are defined in terms of a given weight of gold.
Good: Anything that anyone wants. All options or alternatives are goods. Goods can be tangible or intangible.
Government Budget Constraint: Total government outlays (the sum of expenditures on goods and services, transfer payments and interest on debt) must equal total revenue (the sum of taxes and US government loans).
Government Security: A contract of the government promising to pay a lender a fixed rate of interest per year and repay the original loan at a fixed future date.
Government Transfer Payment: Outlays by the government for which no good or service is received in the current period.
Graduated payment : Repayment terms calling for gradual increases in the payments on a closed-end obligation. A graduated payment loan usually involves negative amortization.
Grandfathered activities : Nonbank activities, some of which would normally not be permissible for bank holding companies and foreign banks in the United States, but which were acquired or engaged in before a particular date. Such activities may be continued under the 'grandfather' clauses of the Bank Holding Company and International Banking Acts.
Gross domestic product - GDP : The total value of a nation's output, income, or expenditure produced within a nation's physical borders.
Gross National Product (GNP): The total market value, in terms of current dollars, of all final goods and services produced in the US in one year.
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