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TIGHT MONEY: A term used when the Federal Reserve System pursues contractionary monetary policy. In other words, to contract our economy out of an inflationary expansion, the Fed decreases the amount of money in the economy or makes it "tighter" for people to get money (usually through bank loans).
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Lesson 10: Gross Domestic Product | Unit 1: Measuring Production
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Page: 5 of 25
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In this unit, you should have learned something about:- How numerical measurements are used to indicate the health and well-being of the economy.
- Gross Domestic Product (GDP), which is the total market value of all final goods and services produced in the economy in a given period of time.
- That GDP seeks to measure ALL production of goods and services in the economy at its total market value.
- That GDP only measures the market value of final goods and services, because the cost of intermediate goods is included in the price of the finished product.
- That GDP measures the flow of current production that takes place during a specific period, usually one year.
- The difference flows, which are measures that take place over a period of time, and stocks, which are measures that exist at a point in time.
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NET DOMESTIC PRODUCT The total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. Net domestic product, usually abbreviated NDP, is one of five key National Income and Product Accounts measures reported regularly (every three months) by the Bureau of Economic Analysis. The other four measures are gross domestic product, national income, personal income, and disposable income. Net domestic product has largely replaced a comparable term, net national production.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for cardboard boxes.
Your Complete Scope
This isn't me! What am I?
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Advice is like snow ‚ the softer it falls, the longer it dwells upon and the deeper it sinks into the mind. " -- Samuel Taylor Coleridge, poet
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TIAC
Thrift Institutions Advisory Council
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