Balance Of Payments: Exports minus Imports- a deficit means that there are more imports than exports. A surplus means that there are more exports than imports.
Balance Of Trade: Visible Exports minus Visible Imports
Visible: Exports or Imports that are tangible, that you can see and touch as they cross international boundaries (goods, not services)
Balanced Budget: where government receipts equal government spending in a financial year
Buffer Stock: an intervention system that aims to limit the fluctuation of prices within an economy.
Capital Spending: government spending to improve the productive capacity of a nation, including infrastructure, schools and hospitals.
Cost Push Inflation: an increase in the cost to produce a good or service results in an increase in the cost of sale and then a knock on effect of an increase in the general price level.
Credit Crunch: where borrowing becomes more expensive or unavailable.
Total Planned Expenditure in the economy (C+I+G+X-M)
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