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IMPLICIT PRICE DEFLATOR: A price index calculated as the ratio nominal gross domestic product to real gross domestic product. Also commonly referred to as the GDP price deflator, the implicit price deflator is used as an indicator of the economy's average price level. This price index is tabulated and reported every three months along with the gross domestic product, national income, and related measures that make up the National Income and Product Accounts maintained by the Bureau of Economic Analysis (BEA).

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FOREIGN EXCHANGE MARKET: A market that trades foreign exchange. The currencies of the advanced nations, and many of the lesser developed ones, are at the top of what's traded in this market. The price at which one currency is traded for another in this market is the exchange rate. Like many "markets" this one is not located at any particular place, but includes transactions around the globe. As you might expect, banks handle a lot of these transactions.

     See also | currency | exchange rate | foreign exchange | market | floating exchange rate | fixed exchange rate | foreign investment |


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FOREIGN EXCHANGE MARKET, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: November 30, 2020].


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PEAK

The transition of a business-cycle expansion to a business-cycle contraction. The end of an expansion carries this descriptive term of peak, or the highest level of economic reached in recent times. A peak is one of two turning points. The other, the transition from contraction to expansion, is a trough. Turning points are important because they represent the transition from bad to good or good to bad.

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Today, you are likely to spend a great deal of time at an auction trying to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for letters from the Internal Revenue Service.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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