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actual budget (H6)<br />The national taxation and expenditure accoun ts of a government. They can be in balance, in surplus or in deficit; often COntrasted With a FULL-EMPLOYMENT BUDGET.
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coefficient of determination (C1)<br />A ratio of the explained variation to the total variation of values from a regression :L[Y(estimated)-Y(mean)f :L[Y(actual)-Y(mean)f & This ratio can range f rom 0 to 1, being 0 if all the variation is unexplained and I if all the variation is explained.<br /><em>See also:</em> linear correlation
<strong>Wire</strong> A realtime method of transferring funds electronically.
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Smithsonian Agreement (F3)<br />A realignment of major world currencies by the GROUP OF TEN in December 1971 at the Smithsonian Institute, Washington, DC. This agreement was forced on the international financial community by US President Nixon when he ordered the US Treasury to suspend its gold sales in August 1971. Wider fluctuations of 4.5 per cent against the US dollar were permitted, the US dollar was devalued against gold by 7.9 per cent and the official gold price was raised from $35 to $38 per fine ounce. The subsequent floating of currencies, e.g. of STERLING in June 1972, quickly abrogated the principal terms of the agreement.<br /><em>See also:</em> Bretton Woods Agreement
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