Macroeconomics Definitions Chapter 18

appreciation

balanced trade

closed economy

an economy that does not interact with other economies in the world

depreciation

exports

goods and services that are produced domestically and sold abroad

imports

goods and services that are produced abroad and sold domestically

net exports

...

nominal exchange rate

the rate at which a person can trade the currency of one country for the currency of another

open economy

purchasing-power parity

real exchange rate

trade balance

trade deficit

trade surplus