Glossaries of Economic Term-G |
||
gold exchange standard A variant form of the gold standard under which a country pegged the value of its currency to the value of the currency of a 'major' country, e.g. sterling or dollars, which was itself on a gold standard. The international monetary regime in force between 1958 and 1970 is frequently described as a gold exchange standard system because of the wide use of the dollar, itself pegged to gold, as a reserve currency and as an accepted medium of exchange internationally. gold standard A monetary system in which currencies are defined in terms of a given weight of gold. government securities Securities issued by the U.S. Treasury or federal agencies. graduated payment Repayment terms calling for gradual increases in the payments on a closed-end obligation. A graduated payment loan usually involves negative amortization. grandfathered activities Nonbank activities, some of which would normally not be permissible for bank holding companies and foreign banks in the United States , but which were acquired or engaged in before a particular date. Such activities may be continued under the 'grandfather' clauses of the Bank Holding Company and International Banking Acts. gross domestic product - GDP The total value of a nation's output, income, or expenditure produced within a nation's physical borders. gross national product - GNP A country's total output of goods and services from all forms of economic activity measured at market prices for a calendar year.
|
||
|
|