Examlex
The income effect due to a price decrease will result in an increase in the quantity demanded for
Flexible Exchange-Rate System
A currency valuation system where the value of a currency is allowed to fluctuate in response to foreign exchange market mechanisms.
Foreign-Exchange Reserves
Stockpiles of foreign currencies maintained by a nation’s central bank. Obtained when the central bank sells local currency in exchange for foreign currency in the foreign exchange market.
Terms of Trade
This refers to the ratio at which a country's exports are exchanged for its imports, influencing the country's economic health.
Real Interest Rates
The interest rate adjusted for inflation, representing the true cost of borrowing and the real yield to lenders.
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