This body came into operation in january 1948 and is responsible for international tariff bargaining. (4)
GATT
Famous economists Robert M. Solow, R. Frisch and Elinor Ostrom have this in common. (5-5)
NobelPrize
What is the study of analysis of the optimal behaviour of individual customer at the level of society as a whole called? (7-9)
WelfareEconomics
Consequences for welfare or opportunity costs not fully accounted for in the price and market system. (11)
Externality
Tax cuts and increased government spendings are an example of? (6-6)
FiscalPolicy
It doesn't trade on exchanges, it is a derivative contract through which two parties exchange financial instrument which can be anything but the principal amount doesn't change hands. (4)
Swap
The practice of “fare trade” and “beggar-thy-neighbour” policy. (11)
Reciprocity
A binding contract (just like a bond or stock) that gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price on or before a certain date. (6)
Option
The imposition of tariffs, quotas or other devices to restrct the inflow of imports. (10)
Protection
International Bank for Reconstruction and Development + International Development Association= ? (5-4)
WorldBank
What is the ultimate goal of all economic activities? (7)
Utility
What would lead into stabilized human population and use of renewable resources only? (11-11)
SustainableDevelopment
What am I doing if I am buying a product in london at $6 and selling it in argentina for $8? (9)
Arbitrage
Exclusion from international trade (7)
Autarky
According to law, you cannot be a director of a limited company in UK, then you are an undischarged . (8)
Bankrupt
The cartel of petroleum producing companies. (4)
OPEC
Setting up of mathematical models describing economic relationships and testing their validity is called . (12)
Econometrics
The simultaneous existence of unemployment and inflation. (11)
Stagflation
A reduction in the useful life of a capital good or consumer durable good through economic or technological change. (12)
Obsolescence
A proposition that is being subject to precise statistical verification. (4-10)
NullHypothesis
The practical costs that are incurred by producers in having to change their prices. (4-4)
MenuCost
Who invented the expression elasticity (economics) ? (6-8)
AlfredMarshall
Another word for homogeneous (8)
Fungible
Name the regulation which defines the minimum capital adequacy ratio. (5)
Basel
Another word for gold market. (7-6)
BullionMarket
The process by which an increase in government borrowing displaces private spending. (8-3)
CrowdingOut
Oppotunity costs which have to be borne even if no output is produced. (11-5)
UnavoidableCosts
Opportunity cost incurred in the past which are irrelevant and therefore not relevant to current decisions. (4-5)
SunkCosts
The tool which aids sale and purchase of funds through the sale of short term securities on condition that they'll be repurchased at a given date. (4)
Repo
The combination of losing state benefit entitlment and paying taxes, due to which poor families keep very little of what they earn. (7-4)
PovertyTrap

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