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GDP PRICE DEFLATOR: A price index calculated as the ratio nominal gross domestic product to real gross domestic product. Also commonly referred to as the implicit price deflator, the GDP price deflator is used as an indicator of the economy's average price level. This price index is tabulated and reported every three months along with the gross domestic product, national income, and related measures that make up the National Income and Product Accounts maintained by the Bureau of Economic Analysis (BEA). If you haven't guessed already, the GDP part of GDP price deflator stands for gross domestic product.
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POLITICAL GAME The political system can be thought of as a game, a contest between two groups of players. Rulers are the ones who set the rules. Rulees are the ones who must abide by the rules. The political game, of course, has serious consequences, with winners and losers. The distribution, either concentrated or dispersed, of these consequences can have a profound effect on the game. The study of public choice provides insight into the economic efficiency with which the political game is played.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either a bookshelf that will fit in your closet or a birthday greeting card for your grandfather. Be on the lookout for broken fingernail clippers.
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Lombard Street is London's equivalent of New York's Wall Street.
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"Nobody can be successful unless he loves his work. " -- David Sarnoff, TV pioneer
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ATC
Average Total Cost
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