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neoclassical synthesis (DO, EO)<br />An approach to economic theory combining the price theory created by CLASSICAL ECONOMICS and KEYNESIAN macroeconomics. SAMUELSON popularized this concept in his bestselling textbook Economics.
Lawson boom (E3, NO, N1)<br />The period of high inflation in the UK in the late 1980s when Nigel Lawson was Chancellor of the Exchequer. It occurred in the upswing of an economic cycle when the economy was also suffering the effects of the COMMUNITY CHARGE.
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carbon sink (Q2)<br />An a rea with trees and plants which has been created to absorb carbon dioxide. This has been proposed to reduce global wa rming.
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