|
REAL GROSS DOMESTIC PRODUCT: The total market value, measured in constant 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 real gross domestic product is measured in constant prices, the prices for a specific base year. Real gross domestic product, also termed constant gross domestic product, adjusts gross domestic product for inflation. You might want to compare real gross domestic product with the related term nominal gross domestic product.
Visit the GLOSS*arama
|
|
|
|
Lesson 12: Business Cycles | Unit 3: Measurement
|
Page: 12 of 26
|
Since the 1930s Great Depression, when the modern study of economics was prompted, economists have sought indicators of business cycles. Some indicators are: - Real GDP, the unemployment rate, and the inflation rate are useful measures, but they measure only specific aspects of the economy. These may not be the best indicators of overall business cycle activity.Economists have identified three sets of indicators to track business cycles:
- Leading indicators.
- Coincident indicators.
- Lagging indicators.
|
|
|
|
|
|
QUANTITY DEMANDED The specific quantity of a good that buyers are willing and able to buy at a specific demand price. The key word is "specific." Quantity demanded and demand price form matched pairs--one quantity, one price. The combination of all price-quantity pairs is then what constitutes demand. The demand curve is a plot of the quantity demanded at each demand price.
Complete Entry | Visit the WEB*pedia |
|
|
One of the largest markets for gold in the United States is the manufacturing of class rings.
|
|
"The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires." -- William Ward ‚ Texas Wesleyan University Administrator
|
|
AVT Ad Valorem Taxes
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|