What Is the Glass-Steagall Act? The Glass-Steagall Act of 1933 forced commercial banks to refrain from investment banking activities to protect depositors from potential losses through stock speculation. Glass-Steagall aimed to prevent a repeat of the 1929 stock market crash […]
Glass-Steagall Act of 1933: Definition, Effects, and Repeal Read More »
What Is the World Trade Organization (WTO)? The World Trade Organization (WTO) is a global organization that deals with the rules of trade between nations. It is made up of 164 member countries, and its goal is to ensure that trade flows as
What Is the World Trade Organization (WTO)? Purpose and Functions Read More »
When faced with a sudden shock to its economy, a country can opt to implement a dual or multiple foreign exchange rate system. With this type of system, a country has more than one rate at which its currency is
Dual and Multiple Exchange Rates 101 Read More »
What Is the Current Account Balance? The current account balance (CAB) is part of a country’s financial inflow and outflow record. It is part of the balance of payments, the statement of all transactions made between one country and another.
Current Account Balance Definition: Formula, Components, and Uses Read More »
International trade is the purchase and sale of goods and services by companies in different countries. Consumer goods, raw materials, food, and machinery all are bought and sold in the international marketplace. International trade allows countries to expand their markets
International (Global) Trade: Definition, Benefits, and Criticisms Read More »
