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balance of payments equilibrium (F4)<br />A balance within the overall ACCOUNTING BALANCE OF PAYMENTS. The equilibria most frequently examined are in the current account, in the visible trade account or in the current and long-term capital accounts combined. The balance chosen for examination depends on the purpose of the analysis. If the performance of industry is being considered, then the balance of trade will be examined, but the capital accounts merit attention if a foreign exchange market is under scrutiny.
<strong>Award Year (AY)</strong> – The standard federal definition of an award year is July 1 through June 30. (Note: the acronym “AY” may also refer to the Academic Year or Aid Year.)
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<strong>Private loan</strong> – A non federal student loan, also referred to as “alternative loan.” Private loans are offered to students and/or parents by many, many lenders, secondary markets, and other private entities.
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commodity (DO)<br />1 Something, usually physical, which can be bought and sold and is directly measurable. The concept is used extensively in both MARXIAN ECONOMICS and GENERAL EQUILIBRIUM analysis since HICKS. MARX argued that through the exchange process goods lose their use value, becoming 'citizens of the world' and merely the vehicle for merchants to earn SURPLUS VALUE. SRAFFA regarded a commodity as a good or service produced by a unique combination of factor inputs.<br /> 2 A raw material or primary product.
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