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productive potential (04)<br />The maximum growth rate of a country extrapolated from past trends. It is measured by considering both the growth rates of the supply of factors of production (labour and capital) and the PRODUCTIVITY of those factors_<br /><em>See also:</em> natural rate of growth; potential output
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Mayday (G2)<br />The deregulation of the Wall Street securities industry on 1 May 1975. Price competition was increased by abolishing minimum commissions, a system that had existed on the New York Stock Exchange since 1792. A major effect of this change was a reduction in the number of securities firms.<br /><em>See also:</em> Big Bang
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