- Looking at the economy as a whole, particularly the interaction of its various components with one another.
general economic factor, national productivity
Related Terms and Acronyms
- Bank Rate — Definition,
- Closely related to the overnight rate, the bank rate is the interest rate the Bank of Canada charges to banks and other major financial institutions for one-day loans.
- Deflation — Definition,
- An actual decline in the general level of prices in the economy.
- Depreciation — Definition,
- The gradual loss of value of a building or other property because of age or natural wear.
- Economic Indicators — Definition,
- Statistics that help determine how the economy is faring. They include the Consumer Price Index, housing starts, and unemployment rates, among others.
- Fiscal Policy — Definition,
- The use of government spending and taxation policies to influence the economy.
- Gross Domestic Product (GDP) — Acronym,
- The total value of all the goods and services produced by the Canadian economy in a single year.
- Index — Definition,
- A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes.
- Inflation — Definition,
- A rise in the average level of prices in the economy.
- Microeconomics — Definition,
- Looking at the individual parts of the economy, with emphasis given to the market process and how it works.
- Monetary Policy — Definition,
- The Bank of Canada's ability to influence the economy through changes in short-term interest rates and the money supply.
- Overnight Rate — Definition,
- The interest rate banks use to lend or borrow funds from each other.
- Recession — Definition,
- A prolonged period (popularly defined as two successive quarters) in which economic activity shrinks.