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ANNUAL: A standard 12-month period, or one year, used for reporting economic and financial data. Gross Domestic Product and related measures are noted economic data released annually. Many businesses also provide annual financial reports. Another standard reporting period is the quarter.

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Lesson 10: Gross Domestic Product | Unit 5: Issues Page: 23 of 25

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The study of gross domestic product is important for at least for two reasons.
  • First, Scarcity. Real GDP indicates how well the economy is addressing the economic problem of scarcity.
  • Second, Stability. Real GDP is a key measurement for analyzing economic instability and business cycles.

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CAUSE AND EFFECT

The notion that every event in the universe is the direct result of a preceding event, that one event A causes another event B. The purpose of the scientific method is to identify these cause-and-effect relations. This pursuit is based on a simple point of view: everything happens for a reason. For every action there is a consequence. And for every consequence there is a cause.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost. "

-- John Quincy Adams, 6th US president

BNA
Bureau of National Affairs
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