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REAL PRODUCTION: The market value of all production measured in constant prices, after adjusting for inflation. Real production is typically measured with real GDP.

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ACCOUNTING PROFIT: The difference between a business's revenue and it's accounting expenses. This is the profit that's listed on a company's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. It frequently has little relationship to a company's economic profit because of the difference between accounting expense and the opportunity cost of production. Some accounting expense is not an opportunity cost and some opportunity cost is does not show up as an accounting expenses.

     See also | business | profit | economic profit | normal profit | entrepreneurship | accounting cost | opportunity cost | economic cost | economic rent | externality | Internal Revenue Service | tax |


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ACCOUNTING PROFIT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: June 4, 2023].


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INFLATION RATE

The percentage change in the price level from one period to the next. The inflation rate is most commonly presented as an annual average, the percentage change in the average price level from one year to the next. The two most common price indexes used to measure the price level and the inflation rate are the Consumer Price Index (CPI) and the GDP price deflator. The inflation rate is one of several key indicators of business-cycle instability and the overall health of the macroeconomy, with primary focus on tracking the goal of price stability.

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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at a garage sale trying to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for slightly overweight pizza delivery guys.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
"Whenever you see a successful business, someone once made a courageous decision."

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