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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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UTILITY The satisfaction of wants and needs obtained from the use or consumption of goods and services. The terms utility and satisfaction are, for the most part, used interchangeably in economics. The concept of utility is integral to utility analysis, consumer demand theory, and the microeconomic analysis of consumer behavior and market demand.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for malfunctioning pocket calculators.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Genius is an infinite capacity for taking pains. " -- Jane Ellis Hopkins, writer
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Y
Income, Nominal Gross National Product
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