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petrocurrency (E4)<br />A currency whose value is influenced by the large part oil plays in that country's balance of payments.
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<strong>Statutory interest rate</strong> – The maximum annual interest rate under the Higher Education Act of 1965, as amended, that a lender may charge on a FFEL Program loan.
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dual-decision hypothesis (E6)<br />Clower's reinterpretation of KEYNEs's unemployment equilibrium by distinguishing 'notional' demand, the demand of households at prices reflecting a FULL- EMPLOYMENT equilibrium from 'effective' demand, the demand of households whose actual incomes have fallen through unemployment. Adjustment to unemployment equilibrium takes place through incomes and not through relative prices. This hypothesis recognizes that in a market system a household cannot buy and sell what it pleases if there is excess supply in the economy, and attempts to reconcile WALRAS'S LAW with KEYNEs's General Theory.<br /><em>Reference</em><br />Clower, R.W (ed.) (1969) Monetary Theory, ch. 19, Harmondsworth: Penguin.
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