1												2										3		4
		5		6										7
	8															9
						10															11
								12
																							13
	14
														15
											16
								17							18
				19									20
																					21																	22
																										23														24
				25
																								26
				27
	28																													29
																	30																		31
													32			33						34
35											36
																	37											38
											39																												40
																																					41
										42					43
				44																45
46
										47
																														48
				49											50

Across 3. Secondary markets in which buyers and sellers of securities (or their agents or brokers) meet in one central location to conduct trades. 6. Claims to share in the net income and assets of a corporation (such as common stock). 7. A short-term unsecured promissory note that is generally sold by large corporation on a discount basis to institutional investors and other corporations. 8. The exchange rate between two currencies, neither of which is the U.S. dollar, calculated by using the dollar rates for both currencies. 9. The ratio of output (goods and services) to the input of physical capital (plant and equipment). 11. Each nation should specialize in the production and export of those goods that it can produce with highest relative efficiency and import those goods that other nations can produce relatively more efficiently. 12. The discounting - at a fixed rate without recourse - of medium-term export receivables denominated in fully convertible currencies. 13. A document that contains as authoritative description of the merchandise shipped, including full details on quality, grades, price per unit, and total value, along with other information on terms of the shipment. 14. seek to earn risk-free profits by taking advantage of differences in interest rates among countries. 15. An exchange rate whose value is fixed by the governments involved. 18. was implemented in 1946. According it each government pledged to maintain a fixed, or pegged, exchange rate for its currency vis-a-vis the dollar or gold. 21. The set of banks that accept deposits and make loans in Eurocurrencies 23. An invoice, which varies in its details and information requirements from nation to nation, that is presented to the local consul in exchange for a visa. 25. The reduction in transaction costs per dollar of transaction as the size (scale) of transactions increases. 26. General level of political and economic uncertainty in a country affecting the value of loans or investments in that country. 27. Net value of all economic transactions - including trade in goods and services, transfer payments, loans, and investments - between residents of the same country and those of all other countries. 30. A means of borrowing against a trade or other draft. The exporter or other borrower placed the draft with a bank or other financial institution and, in turn, receives the face value of the draft less interest and commissions. 33. One of which new information is readily incorporated in the prices of traded securities. 35. Periodic payments made by equities to shareholders. 36. Net flow of goods, services, and unilateral transactions (gifts) between countries. 37. The international monetary system in use from 1945 to 1971 in which exchange rates were fixed and the U.S. dollar was freely convertible into gold (by foreign governments and central banks only). 39. A contract between a carrier and an exporter in which the former agrees to carry the latter's goods from port of shipment to port of destination. It is also the exporter's receipt for the goods. 43. The transfer of capital abroad in response to fears of political risk. 45. A quote that gives the home currency price of a foreign currency. 46. Agents for investors; they match buyers with sellers. 47. It is focuses on transactions considered to be fundamental to the economic health of a currency 48. Under this selling method, goods are only shipped, but not sold, to the importer. The exporter (consignor) retains title to the goods until the importer (consignee) has sold them to a third party. This arrangement is normally made only with a related company because of the large risks involved. 49. A bond sold outside the country in whose currency it is denominated. 50. One one-hundredth of a percentage point.

Down 1. Nonconvertible paper money. 2. The process of indirect finance whereby financial intermediaries link lender-savers and borrower-spenders. 4. A model for pricing risk. The CAMP assumes that investors must be compensated for the time value of money plus systematic risk, as measured by an asset's beta. 5. A currency deposited in a bank outside the country of its origin 10. The taking of foreign property, with or without compensation, by a government. 16. the difference between a country's merchandise exports and imports - that is, its net receipts of foreign exchange from international trade in goods. 17. are established by the United States and other countries, whose lending is directed to investments that might not otherwise be funded by private capital. 19. Fixed-rate bonds that are convertible into a given number of shares prior to maturity. 20. A draft addressed to a bank. 22. The ability to use one resource to provide many different products and services. 24. Net result of public and private international investment and lending activities. 28. Firms with a substantial export business and companies too small to afford a foreign credit and collections department can turn to a factor (specialized buyer, at a discount, of company receivables). 29. Draft accepted by a bank. 31. The comparison among producers of a good according to their productivity. 32. A U.S. dollar on deposit outside the United States. 34. The key ingredients of economic freedom are personal choice, voluntary exchange - both domestically and internationally - of goods and currencies, freedom to enter and compete in markets, and security of private' property. 38. An unconditional order in writing - signed by an exporter, and addressed to the importer - ordering him or his agent to pay, on demand (sight draft) or at a fixed future date (time draft), the amount specified on its face. 40. A time draft that is accepted by the drawee, Accepting a draft means writing accepted across its face, followed by an authorized person's signature and the date. The party accepting a draft incurs the obligation to pay it at maturity. 41. a general change in the orientation of economic policies, intended to improve long-term economic performance or to respond to changes in the international economic environment facing a country. Adjustment may comprise macroeconomic adjustment and/or structural adjustment. The IMF generally uses the term 'adjustment' to refer to the former, and the World Bank to the latter. 42. A bank that accepts and makes loans in Eurocurrencies. 44. People who link buyers with sellers by buying and selling securities at stated prices.