The process by which many (but far from all) economies in the world close the gap between the world leader […]

Inequality between particular social groups (identified, for instance, by a category such as race, nation, caste, gender or religion). Also […]

A direction from cause to effect, establishing that a change in one variable produces a change in another. While a […]

A Latin phrase that means “let the buyer beware.” It is a warning to potential customers that no guarantee or […]

A banking term for certificate of deposit. Also: a compact disk, a form of digitized data storage. (as in CD-ROM)

After completing RFM analysis, every customer is assigned a Cell Code which identifies her recency frequency and monetary level of […]

The only bank that can create base money. Usually part of the government. Commercial banks have accounts at this bank, […]

Also known as a CD. A bank time deposit (savings deposit) that cannot be withdrawn until a specified date. For […]

A designation awarded by one of 50 U.S. states or five jurisdictions to a college graduate who has passed the […]

Economists often simplify analysis by setting aside things that are thought to be of less importance to the question of […]