These negotiable certificates are held by one country's bank, and represent a certain number of shares of a foreign stock which is traded on another exchange. Similar to American Depositary Receipts (ADR).

An international mutual fund that invests in securities from around the world, including Canada. See also International fund.

A value-added-tax levied on all goods and services sold in Canada. Goods and services are currently taxed at a rate of 7 per cent of their cost.

The total value of all goods and services produced within Canada during a given year. It is also a measure of the income generated by production within Canada. Also referred to as annual economic output or just output. Canada's GDP in 1998 was $888.4 billion. To avoid counting the same output more than once, GDP includes only final goods and services -- not those, which are used to make another product. For example, GDP would not include the wheat that is used to make bread, but would include the bread itself.

Your income from all sources before any deductions.

The gross income of a company, divided by the net sales, and expressed as a percentage.

A company's net sales minus its cost of goods.

The world's seven largest industrial market economies, namely the United States, Japan, Germany, France, Britain, Italy and Canada. The leaders of these countries meet annually, accompanied by officials, to discuss major political and economic issues of mutual concern. In addition, G-7 finances ministers’ meet several time a year to discuss economic policy. Their work is supported by regular, functional meetings of officials, including the G-7 Finance Deputies.

A percentage increase in the production of goods and services over a given period. Nominal growth is the increase including changes in prices. Real growth is the increase excluding changes in prices. Growth or economic growth may refer to either measure. For example, Canada's GDP increased from $776.3 billion in 1995 to $797.8 billion in 1996. That is an increase of 2.8 per cent -- the nominal rate of growth for 1996. Statisticians and economists have developed a concept called constant dollars so that they can exclude changes in prices from measures of growth. Constant dollar GDP is a measure using the prices of a base year. Changes in constant dollar GDP capture changes only in actual or real production. Statistics Canada currently uses 1986 as its base year. Our real GDP (real output) for 1996 was $617.8 billion in 1986 dollars, compared to $608.8 billion in 1995 -- an annual rate of growth of 1.5 per cent.

A mutual fund that seeks both capital appreciation and current income by investing in dividend-paying and growth stocks for capital appreciation and bonds for current income. A growth and income fund combines long-term capital gains with steady income. Invest in growth and income funds if you find growth funds too risky or if you depend on income produced by your assets.

A mutual fund that invests in growth stocks. Investors who want high capital appreciation tend to invest in growth stocks, which are more conservative than income funds. Growth stocks are usually purchased as a long-term holding, with the expectation that their price per share will appreciate (and perhaps pay dividends) in the future.

Shares of companies whose earnings are expected to increase at an above-average rate. Growth stocks are often typified by their low yields and relatively high price/earnings rations. Their prices reflect investors' belief in their future earnings in growth.

Mutual funds that invest in and earn interest on term deposits and guaranteed investment certificates.

The length of time for which annuity payments are guaranteed. If the annuitant dies before the specified term, payments will continue to the beneficiary until the term ends.