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Old 08-07-2011, 05:19 PM   #550
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leading indicators (E3)<br />A series of economic statlsttcs that changes prior to a change in the REFERENCE CYCLE of an ECONOMY. The principal leading indicators are the index for the construction industry, the index for industrial materials prices, new orders for industrial durable goods, profits, business failures and common stock prices.<br /><em>See also:</em> economic indicators; lagging indicator leads and tags (F4)<br />The advancing (leading) of payments and the delaying (lagging) of receipts, particularly in international trade. If the view is taken that a country's currency is about to depreciate, or to be devalued, then traders of that country, in order to protect themselves against losses, will pay earlier for imports and will delay converting export receipts into the depreciating currency. It has been argued that in the past DEVALUATIONS of currencies were precipitated by a change in the timing of payments, e.g. the devaluation of the pound sterling in 1967.

<strong>FAD</strong> – Financial Aid Director, a staff member at an eligible school who heads the financial aid office.

<strong>Higher Education Act of 1965 (HEA)</strong> – The Act which created the federal student aid programs.
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free market (D4)<br />A market in which buyers and sellers are free to contract on whatever terms they wish without governmental interference.
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