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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.
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LABOR FORCE The total number of people in an economy, society, or country willing and able to exert mental and/or physical efforts in productive activities. The labor force is a more technical term for the labor resource or labor supply. It includes both employed workers and unemployed workers. An official variation of this term is civilian labor force. While labor force may or may not include military personnel, the civilian labor force explicitly excludes the military. Labor and labor resources are the theoretical terms that economists like to banter about. Labor force and civilian labor force are the terms of choice for government policy makers, data-crunchers, and others who need precise labor resource numbers.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for telephone calls from long-lost relatives.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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EBC
Electronic Business Communications
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