- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
- Company Profile:
1. The property of a function X=F(V) that is homogeneous of degree N that <sub>i</sub>V<sub>i</sub>∂F/∂V<sub>i</sub>=NX. 2. The useful implication of this that, for a production function X=F(V) with constant returns to scale, the competitive payments to factors sum to the value of output: <sub>i</sub>w<sub>i</sub>V<sub>i</sub>=pX.
Industry:Economy
A bond that is issued outside of the jurisdiction of any single country, denominated in a eurocurrency.
Industry:Economy
A European network of NGOs working to reduce poverty and empower the poor in developing countries through improved economic and financial policies.
Industry:Economy
An agreement between the EU and each of ten Eastern European countries (starting with Hungary and Poland in 1994) creating free trade areas and establishing additional forms of political and economic cooperation in preparation for these countries' eventual membership in the EU.
Industry:Economy
A composite currency that is a basket of most of the currencies of countries in the European Union. Conceived in 1979, it has been used as a unit of account of the European Monetary System.
Industry:Economy
A customs union formed in 1958 by the Treaty of Rome among six countries of Europe: Belgium, France, Germany, Italy, Luxembourg, and Netherlands; predecessor to the EC in 1967 and the EU in 1992.
Industry:Economy
A free trade area made up of countries in Europe that did not join the European Economic Community. EFTA was established in 1960 among Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and the United Kingdom. As of 2010 it includes Iceland, Liechtenstein, Norway, and Switzerland.
Industry:Economy
A temporary institution that existed from January 1994 to June 1998 during the years leading up to the European Central Bank and the introduction of the euro. It's purpose was to facilitate cooperation and coordination among the central banks of the EU and to pave the way for the shift to the euro.
Industry:Economy
A currency union formed by some of the members of the EEC in 1979 that continued, with changing membership, until replaced by the EMU and the euro in 1999.
Industry:Economy
A group that meets annually for conferences on the economics of international trade.
Industry:Economy
