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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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PRICE STABILITY: The condition in which the average price level in the economy does not change or changes very slowly. This is a key part of the macroeconomic goal of stability (the other two are full employment and growth). Price stability is commonly indicated by the inflation rate, calculated as percentage changes in either the Consumer Price Index (CPI) or the GDP price deflator. However, price stability is more generally the ABSENCE of large or rapid increases or decreases in the price level.

     See also | economic goals | macro goals | stability | full employment | growth | inflation | inflation rate | Consumer Price Index | GDP price deflator | price level |


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PRICE STABILITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 4, 2024].


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SILVER CERTIFICATES

Paper currency issued and authorized by the U.S. Department of the Treasury that is, in principle, backed up by, and exchangeable for, an equivalent value of silver. Silver certificates were in circulation as a medium of exchange for the U.S. economy during two periods, 1878 to 1923 and 1928 to 1957. A similar form of paper currency is gold certificates.

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