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NOMINAL GDP: The total market value, measured in current prices, of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. The key is that nominal gross domestic product is measured in current, or actual prices; the prices buyers actually pay for goods and services purchased. Nominal gross domestic product is also termed current gross domestic product.
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FACTOR DEMAND The willingness and ability of productive activities (usually, business firms) to hire or employ factors of production. Factor demand relates factor price and factor quantity, specifically, it is the range of factor quantities that are demanded at a range of factor prices. This is one half of the factor market. The other half is factor supply. The factors of production subject to factor demand include any and all of the four scarce resources--labor, capital, land, and entrepreneurship. However, because labor involves human beings directly, it is the factor that tends to receive the most scrutiny and analysis.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"The greatest use of life is to spend it for something that will outlast it." -- William James, psychologist
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IAB
Inter-American Bank
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