A secured loan instrument raised by a company, typically with fixed interest and sometimes with a fixed redemption date; it defines the rights of debenture holders in different scenarios.
An economic theory suggesting that government borrowing does not influence overall economic activity when households anticipate future tax liability increases.
A provision of a pension scheme in which the benefits to be received by the pensioner are predetermined and do not depend on the performance of the pension fund.
An estimate of the difference between the level of effective demand required for a normal level of economic activity at any time, and the actual level during a recession.
A comprehensive overview of the concept of demand function including its definition, historical context, major analytical frameworks, and case studies.
The withdrawal from a currency or precious metal of its acceptance as a form of money. Gold was demonetized as an international currency in 1971 by the Group of Seven governments.
An intricate and pivotal round of multilateral trade negotiations conducted under the General Agreement on Tariffs and Trade (GATT) framework that laid the groundwork for contemporary global trade practices.
An explanation of the economic principle of diminishing marginal product, where the addition of successive extra units of an input yields smaller increases in output.