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CAPITAL ACCOUNT DEFICIT: An imbalance in a nation's balance of payments capital account in which payments made by the country for purchasing foreign assets exceed payments received by the country for selling domestic assets. In other words, investment by the domestic economy in foreign assets is less than foreign investment in domestic assets. This is generally not a desireable situation for a domestic economy. However, in the wacky world of international economics, a capital account deficit is often balanced by a current account surplus, which is generally considered a desireable situation. If, however, the current account does not balance out the capital account, then a capital account deficit contributes to a balance of payments deficit.

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Lesson 7: Market Equilibrium | Unit 5: The Method Page: 22 of 22

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  • How efficient use of resources can automatically result from the self-correcting tendency of markets to achieve equilibrium.
  • The demand price on the demand curve as the value of goods produced by society.
  • The supply price on the supply curve as the value of goods not produced by society.
  • How too much or too little production generates inequality between the demand price and the supply price, and prevents efficiency.
  • How market imperfections, including the lack of competition and externalities, prevent efficiency.


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REVENUE EFFECT

The generation of revenue used to finance government operations that results from placing taxes on economic activity. The revenue effect is the primary reason that governments impose taxes on members of society. Without the revenue generated from taxes, governments could not provided valuable and essential public goods nor undertake other government operations. This is one of two effects of taxation. The other is the allocation effect, which is the change in resource allocation that results because taxes create disincentives to produce, consume, and exchange.

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Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either arch supports for your shoes or an AC adapter that works with your MPG player. Be on the lookout for slow moving vehicles with darkened windows.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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