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Laissez-faire: French phrase meaning "leave alone." In economics and politics, a doctrine that the economic system functions best when there is no interference by government.
Managed float regime: An exchange rate system in which rates for most currencies float, but central banks still intervene to prevent sharp changes.
Market: A setting in which buyers and sellers establish prices for identical or very similar products, and exchange goods or services.
Market economy: The national economy of a country that relies on market forces to determine levels of production, consumption, investment, and savings without government intervention.
Mixed economy: An economic system in which both the government and private enterprise play important roles with regard to production, consumption, investment, and savings.
Monetary policy: Federal Reserve System actions to influence the availability and cost of money and credit as a means of helping to promote high employment, economic growth, price stability, and a sustainable pattern of international transactions.
Money supply: The amount of money (coins, paper currency, and checking accounts) that is in circulation in the economy.
Monopoly: The sole seller of a good or service in a market.
Mutual fund: An investment company that continually offers new shares and buys existing shares back on demand and uses its capital to invest in diversified securities of other companies. Money is collected from individuals and invested on their behalf in varied portfolios of stocks.
National Association of Securities Dealers Automated Quotation system (Nasdaq): An automated information network that provides brokers and dealers with price quotations on the approximately 5,000 most active securities traded over the counter.
New Deal: U.S. economic reform programs of the 1930s established to help lift the United States out of the Great Depression.
New York Stock Exchange: The world's largest exchange for trading stocks and bonds.
Nontariff barrier: Government measures, such as import monitoring systems and variable levies, other than tariffs that restrict imports or that have the potential for restricting international trade.
Open trading system: A trading system in which countries allow fair and nondiscriminatory access to each other's markets.
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