EUROSCLEROSIS
Economic stagnation which can lead to a government’s overregulation and overly generous social benefits policies. It pertains to countries with high unemployment rates and lagging job creation in times of economic growth. German economist Herbert Giersch coined the term, stemming from the medical term sclerosis meaning hardening of tissue.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
Infant-Industry Theory
A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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