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THIRD-WORLD COUNTRY: A country with a relatively low standard of living and which lacks the economic development of more advanced industrialized nations like the United States. Most third-world countries are in Africa, Asia, and South America and often rise to newsworthy prominence when they have a famine, are overthrown by a military dictator, or are invaded by a more developed country. They tend to have high rates of population growth and limited success in doing what's necessary to achieve economic growth.
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COUNCIL OF ECONOMIC ADVISORS: A three-member board that advises the President of the United States on economic policy and helps prepare an annual economic report. These three men are economists (they're usually, but not always men and usually, but not always, economists) who keep the President up to date on current economic statistics and do most of the dirty work in terms of formulating the details of economic policies. The Chairman of the Council of Economic Advisors has one of the two most important non-elected voices on economic policy in the nation, with the other being the Chairman of the Board of Governors of the Federal Reserve System. See also | economic policies | fiscal policy | economist | Board of Governors, Chairman | Federal Reserve System |
Recommended Citation:COUNCIL OF ECONOMIC ADVISORS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 8, 2025].
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MANAGED FLEXIBLE EXCHANGE RATE An exchange rate control policy in which an exchange rate that is generally allowed to adjust to equilibrium levels through to the interaction of supply and demand in the foreign exchange market, but with occasional intervention by government. Also termed managed float or dirty float, most nations of the world currently use a managed flexible exchange rate policy. With this alternative an exchange rate is free to rise and fall, but it is subject to government control if it moves too high or too low. With managed float, the government steps into the foreign exchange market and buys or sells whatever currency is necessary keep the exchange rate within desired limits. This is one of three basic exchange rate policies used by domestic governments. The other two policies are flexible exchange rate and fixed exchange rate.
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PINK FADFLY
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Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a weathervane with a chicken on top or a flower arrangement with daisies and carnations for your uncle. Be on the lookout for telephone calls from former employers.
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The average bank teller loses about $250 every year.
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"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
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CBI
Confederation of British Industry
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