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NOMINAL GDP: The total market value, measured in current 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 nominal gross domestic product is measured in current, or actual prices; the prices buyers actually pay for goods and services purchased. Nominal gross domestic product is also termed current gross domestic product.
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PROPERTY RIGHTS The legal ownership of resources, which entitles the owners to receive the benefits or pay the costs associated with productive activities of the resources. Property rights can be owned individually (to the exclusion of others) or jointly by several members of society. The institution of private property is a form of property rights essential to capitalism.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market wanting to buy either a wall poster commemorating the moon landing or storage boxes for your winter clothes. Be on the lookout for attractive cable television service repair people.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"You are the only problem you will ever have and you are the only solution. Change is inevitable, personal growth is always a personal decision." -- Bob Proctor, Author and Speaker
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AIFT
American Institute for Foreign Trade
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