Labor force: As measured in the United States, the total number of people employed or looking for work.

Laissez-faire: French phrase meaning "leave alone." In economics and politics, a doctrine that the economic system functions best when there is no interference by government.

Managed float regime: An exchange rate system in which rates for most currencies float, but central banks still intervene to prevent sharp changes.

Market: A setting in which buyers and sellers establish prices for identical or very similar products, and exchange goods or services. 118

Market economy: The national economy of a country that relies on market forces to determine levels of production, consumption, investment, and savings without government intervention.