The General Agreement on Tariffs and Trade (GATT) was a legal agreement aimed at promoting international trade by reducing or eliminating trade barriers such as tariffs or quotas. Established in 1948, it laid the groundwork for the World Trade Organization (WTO) and played a crucial role in the global economic system.
The General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) provide a comprehensive global framework for international trade rules and regulations.
Gazumping refers to the situation where a seller reneges on an agreement to sell a property because of a higher offer from another buyer. This phenomenon typically occurs due to delays between an initial agreement and the signing of a legally binding contract, and is more common when property prices are rising.
Gazundering occurs when a property buyer reneges on an agreed price and offers a lower amount, exploiting market conditions where prices are falling and properties are hard to sell.
Comprehensive overview of GDP (Gross Domestic Product) - its definition, historical context, types, importance, applications, and more.
Gross Domestic Product (GDP) is a crucial measure of a nation's economic performance, encompassing the total value of goods and services produced over a specific time period.
A comprehensive measure of a country's economic performance, evaluating the total value of goods and services produced within its borders.
The GDP Deflator is an economic metric that shows the change in prices for all of the goods and services produced in an economy. It reflects how much prices have altered over a specific period.
The GDP Deflator is a price index used to assess the real rise or fall in gross domestic product (GDP) from one year to another by accounting for inflation or deflation. Unlike retail price indices, it considers a broader class of goods.
The GDP Growth Rate measures the annual percentage increase in Gross Domestic Product, indicating economic expansion or contraction.
The Gender Pay Gap represents the average difference in pay between men and women. This article delves into its historical context, key events, importance, and implications across various sectors.
A comprehensive overview of the General Agreement on Tariffs and Trade (GATT), its history, objectives, and impact on international trade.
The General Agreement on Tariffs and Trade (GATT) is a pivotal United Nations agency established in 1948 to promote international trade through multilateral negotiations and tariff reductions, culminating in the creation of the World Trade Organization.
An in-depth exploration of the General Agreement on Trade in Services (GATS), its historical context, provisions, significance, and impact on global trade in services.
An in-depth examination of the General Agreement to Borrow (GAB), an agreement made by the Group of Ten countries in 1962 to provide a pool of resources for international credit via the International Monetary Fund (IMF).
A comprehensive look into the General Anti-Abuse Rule (GAAR) in the UK, aimed at curbing artificial and abusive tax avoidance schemes.
An in-depth article detailing the General Anti-Avoidance Rule (GAAR) aimed at preventing abusive tax avoidance arrangements, exploring historical context, key events, types, examples, and much more.
Explore the definitions, differences, and applications of General Business Credit and Personal Tax Credit, including their implications for businesses and individual taxpayers.
A General Corporation can engage in a broad spectrum of business activities, with ownership open to the public.
An integrated state where supply and demand are balanced across multiple markets simultaneously, ensuring comprehensive market stability.
General equilibrium is an approach in economics for analyzing simultaneous equilibrium in all markets within an economy. This article delves into the historical context, key models, importance, applicability, and related concepts.
General expenses are those expenses of an organization that cannot easily be placed in any other cost classification. They represent miscellaneous costs that support the overall functioning of the organization.
A situation where overall supply exceeds demand, leading to economic stagnation.
Comprehensive explanation of the general government sector, encompassing central, local, and intermediate levels, including historical context, significance, key events, and more.
Detailed insights into the spending of general government on real goods and services, excluding investment.
An in-depth exploration of general human capital, its significance, types, and implications in various fields. Understanding the difference between general and specific human capital, the impact on employment, and earning opportunities.
A comprehensive analysis of the General Lifestyle Survey (GLF), its historical context, components, importance, and transition into new surveys.
The General Linear Hypothesis involves a set of linear equality restrictions on the coefficients of a linear regression model. This concept is crucial in various fields, including econometrics, where it helps validate or refine models based on existing information or empirical evidence.
An in-depth look into the General Linear Model (GLM), its historical context, types, applications, and mathematical foundations.
An in-depth exploration of the General Price Index, a vital economic indicator examining the weighted average of prices of a basket of consumer goods and services.
An index that gives a measure of the purchasing power of money. In the UK, the best-known measure is the Retail Price Index; in the USA, it is the Consumer Price Index.
An in-depth article covering the Generalized Least Squares (GLS) Estimator, including historical context, applications, key concepts, mathematical models, and more.
A generalization of the method of moments estimator applicable when the number of moment conditions exceeds the number of parameters to be estimated, computed by minimizing the sum of squared differences between the population moments and the sample moments.
The Generalized System of Preferences (GSP) is an initiative to promote economic growth in developing countries by providing preferential duty-free entry for products from designated beneficiary countries.
An extensive guide to Generally Accepted Accounting Principles (US GAAP), encompassing historical context, key events, detailed explanations, and their significance in financial reporting.
An in-depth exploration of generational wealth, its historical context, categories, key events, detailed explanations, importance, applicability, and more.
A comprehensive guide to understanding generic products, their characteristics, market role, and examples.
An in-depth exploration of Geoeconomics, its historical context, types, key events, models, importance, and applicability in shaping international power dynamics.
Geographic Mobility refers to the ease with which workers can relocate to different geographical areas for employment opportunities. It encompasses internal and international migration driven by employment prospects, economic conditions, and personal preferences.
A comprehensive analysis of Geographic Segments, covering definitions, historical context, types, key events, applications, and more.
A detailed exploration of Geographical Indications (GIs), their significance, legal framework, examples, and historical context.
Understanding the concept of a geographical segment, its relevance, and its application across various fields like business, economics, and marketing.
An in-depth exploration of the Geometric Lag Model, its historical context, applications in economics, key formulas, and related concepts.
Georgism is an economic philosophy advocating for Land Value Tax (LVT) as a primary source of public finance, based on the ideas of Henry George.
A comprehensive look at the German Economic and Monetary Union, its historical context, key events, implications, and long-term impacts on Germany and Europe.
Giffen Good is an economic term for a good whose quantity demanded decreases as its price falls, contrary to the basic law of demand. This phenomenon occurs under specific conditions such as the good being inferior with limited substitution possibilities.
A mode of exchange where valuables are not traded or sold but given without an explicit agreement for immediate or future rewards.
A comprehensive overview of Gift Tax, including its historical context, types, key events, detailed explanations, examples, and related terms.
A detailed exploration of the concept of 'Gift with Reservation', including historical context, types, key events, detailed explanations, examples, and important considerations.
The gig economy refers to a labor market characterized by short-term contracts or freelance work, as opposed to permanent jobs. This market often involves temporary, flexible jobs typically facilitated by digital platforms.
A comprehensive look at the concept of gig workers, including their historical context, types, key events, importance, and more.
An in-depth look at gilt-edged securities, their types, historical context, key events, mathematical models, importance, and applicability in modern finance.
The Gini Coefficient is a statistical measure of income or wealth inequality within a nation or a group. It quantifies inequality by summarizing the divergence of the Lorenz Curve from the line of equality.
An in-depth exploration of the Gini Coefficient, a statistical measure used to gauge economic inequality within a population.
The Glass-Steagall Act, a landmark piece of legislation enacted in 1933, aimed to separate commercial and investment banking activities, shaping the financial landscape until its partial repeal in 1999. Learn about its significance, impact, and historical context.
An in-depth look at the Gramm-Leach-Bliley Act (GLBA), including its historical context, key components, impact on financial regulations, compliance requirements, and more.
The Global Financial Stability Report (GFSR) is a comprehensive analysis of the current state of global financial markets, produced semiannually by the International Monetary Fund (IMF).
An extensive overview of Global Income, its definition, types, examples, historical context, applicability, comparisons, related terms, FAQs, references, and summary for residents subject to global taxation.
Refers to economically developed countries primarily located in the northern hemisphere, emphasizing the socioeconomic and political divide.
An in-depth exploration of Global Public Good, encompassing its definition, historical context, types, key events, mathematical models, and much more.
The Global Reporting Initiative (GRI) provides a comprehensive framework for organizations to report their sustainability performance through standardized guidelines, enhancing transparency and accountability.
A comprehensive exploration of the movement of skilled professionals across borders, including historical context, types, key events, explanations, importance, applicability, examples, related terms, comparisons, interesting facts, quotes, and more.
An in-depth exploration of global trade, its history, types, key events, mathematical models, importance, applicability, examples, considerations, and related terms.
Global Warming refers to the long-term increase in Earth's average temperature due to human activities and natural phenomena, leading to significant environmental, economic, and social impacts.
Globalization refers to the multifaceted process of increased international investment, trade, communication, and cultural exchange. It impacts financial markets, economies, and businesses on a global scale.
Globalization refers to the increasing worldwide integration of economic, cultural, political, religious, and social systems. It signifies the process by which the world becomes a single market where goods, services, capital, and labor are traded globally.
Understanding bonds that can be issued in multiple countries, catering to international investors and varying currencies.
A comprehensive guide to understanding glut, its causes, impacts, and the economic implications of oversupply.
An in-depth look at GmbH, a type of private limited company in Germany, including its historical context, structure, key events, significance, and more.
Gross National Product (GNP) is a measure of a country's economic performance, representing the total value of all goods and services produced by a nation's residents over a specified period, typically one year.
An in-depth exploration of Gross National Product (GNP), its historical context, significance, formulae, and applications in measuring economic performance.
Goal congruency refers to the alignment of objectives between different stakeholders within an organization, ensuring that individual managers' goals coincide with those of the organization as a whole and its shareholders.
Godo Kaisha (GK), introduced post-2006, serves as a versatile limited liability company structure in Japan, replacing the Yugen Kaisha (YK). This entity type offers operational flexibility and liability protection to its members.
Exploration of the historical, economic, and cultural importance of gold, its various uses, key events, and significance in the global economy.
Understanding the importance, types, historical context, and implications of gold and foreign exchange reserves for national economies.
The Gold Exchange Standard was a significant monetary system where currencies were valued based on their equivalent value in gold, implemented during the 19th and early 20th centuries to stabilize and facilitate international trade.
Gold Parity refers to the official par value in terms of gold of the currency of a country on the gold standard.
An in-depth exploration of Gold Points, the critical values of exchange rates under the gold standard that determined the profitability of shipping gold between countries.
A comprehensive overview of Gold Reserves, their significance, historical context, management, and impact on global financial stability.
A comprehensive overview of the term 'Gold Rush,' its historical context, notable examples, and impacts on society and economy.
A comprehensive exploration of the Gold Standard, its historical significance, operational mechanisms, key events, and implications for modern economies.
Golden Handcuffs are financial incentives offered to key staff to persuade them to remain with an organization, including bonuses, stock options, and other benefits.
A Golden Hello is a financial incentive offered to a prospective employee to entice them to join a company. The tax treatment of this payment can vary.
An in-depth look at the financial and other benefits provided to senior executives through golden parachute clauses upon their exit, usually triggered by takeover or change of ownership.
In economic theory, the Golden Rule refers to the optimal relationship between the capital-labour ratio and population growth rate to maximize consumption per capita. In British politics, it refers to a fiscal policy implemented in 1997 under Gordon Brown.
A golden share is a special type of share that provides its holder with certain key powers and typically ensures that the company remains under specific control, such as preventing foreign ownership.
An exploration of the Goldilocks Economy, a term describing an ideal economic state characterized by steady growth and low inflation.
Good Output in process costing refers to the sound and flawless output from a process, after accounting for normal and abnormal losses. Learn about its historical context, key events, and significance in manufacturing.
An exploration of Goodhart's Law, an observation by economist C. Goodhart, which states that when an empirical regularity is exploited for economic policy, it tends to lose its predictive reliability.
An in-depth exploration of goods, their types, importance, and economic implications.
Comprehensive examination of the distinction between goods and services, including historical context, types, key events, explanations, and their importance.
GOSPLAN, the State Planning Committee, was the central planning agency of the former Soviet Union, responsible for formulating and implementing economic plans.
An introduction to the Goudou-Kaisha (G.K.), a modern Limited Liability Company (LLC) structure in Japan introduced in 2006.
Government Bonds are debt securities issued by a government to support public spending, generally regarded as low-risk investments. They help fund various governmental activities and projects.
Comprehensive overview of government debt, its types, key events, and detailed explanations. Explore its mathematical models, significance, applications, examples, and related terms.
An in-depth exploration of government efficiency, its historical context, various types, key events, and practical applications.
An in-depth exploration of government expenditure, including its types, historical context, key events, importance, and applicability. This article covers various aspects of government spending, including mathematical models, diagrams, examples, related terms, and more.
Government failure occurs when government intervention aimed at correcting market failures leads to less efficient or detrimental outcomes. This comprehensive guide explores its historical context, types, key events, and implications.
A comprehensive overview of Government Finance Statistics (GFS), a system designed to provide detailed information on fiscal performance, including historical context, methodologies, and applications.
A comprehensive guide to understanding government grants, their types, key events, historical context, mathematical models, and much more.
