G

13 terms were found starting with the letter g.

General Agreement on Tariffs and Trade (GATT)
A series of international agreements first begun in 1947 aimed at gradually liberalizing international trade in goods and services. Also refers to the organization set up in Geneva to implement and enforce these agreements. The eighth and most recent round of trade negotiations under the GATT lasted from 1986 to 1994 and was called the Uruguay Round.
General Equilibrium
A method of economic analysis that examines all the sectors and activities in an economy at the same time. Useful for studying economic interactions between various sectors.
Gini Coefficient
A measure of income inequality ranging from 0 (perfect equality) to 1 (perfect inequality). It is defined as the area between the Lorenz curve and the perfect equality line, divided by the total area underneath the perfect equality line.
Global Warming
A predicted warming of the atmosphere as a result of increases in atmospheric concentrations of carbon dioxide and other greenhouse gases.
Globalization
The increasing integration of world markets for goods, services, and capital. It has also been defined as a process by which nationality becomes increasingly irrelevant in global production and consumption.
Government Failure
When government intervention in an economy hinders instead of helps in achieving social or economic objectives.
Grameen Bank
A rural bank in Bangladesh that has attracted worldwide attention because of its innovative and highly successful group-based lending program for the rural poor, especially rural poor women.
Green Accounting
The incorporation of environmental benefits and costs into economic decision making. Often refers specifically to incorporating the depreciation of natural resources and the environment into estimates of net domestic product or net national product. Sometimes referred to as natural resource accounting or environmental accounting.
Greenhouse Effect
The retention of heat by the Earth’s atmosphere as a result of emissions of carbon dioxide and other greenhouse gases.
Greenhouse Gases
Gases in the Earth’s atmosphere that allow sunlight through but absorb and capture infrared radiation. Important greenhouse gases include carbon dioxide, methane, nitrous oxide, and chlorofluorocarbons (CFCs).
Gross Domestic Product (GDP)
The total final output of goods and services produced within a country’s territory by residents and nonresidents of that country.
Gross National Income (GNI)
The total income earned by the citizens of a country. Same as GNP. Equal to gross domestic product (GDP) plus income accruing to residents from outside of the country, minus income earned in the domestic economy by nonresidents.
Gross National Product (GNP)
The total income earned by the citizens of a country. Equal to gross domestic product (GDP) plus income accruing to residents from outside of the country, minus income earned in the domestic economy by nonresidents.