Textbook Notes (369,140)
Canada (162,411)
Economics (818)
ECON 2410 (18)
Chapter 18

Chapter 18- Openness in Goods and Financial Markets.pdf

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ECON 2410
Laurent Cellarier

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Chapter 18- Openness in Goods and Financial Markets February 20, 2014 12:45 PM Definitions/Equations Tradable Goods- goods that compete with foreign goods in either domestic markets or foreign markets Real Exchange Rate- the relative price of domestic goods in terms of foreign goods Nominal Exchange Rate- the price of the domestic currency in terms of foreign currency, denoted by Fixed Exchange Rate- a system in which two or more countries maintain a constant exchange rate between their currencies Foreign Exchange- foreign currency; all currencies other than the domestic currency of a given country Balance of Payments- a set of accounts that summarize a
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