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July 9, 2025 

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BIS: The Bank for International Settlements (BIS) is an international organization which fosters cooperation among central banks and other agencies in pursuit of monetary and financial stability. Established in 1930, the BIS is the world's oldest international financial organization. The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong, China and in Mexico City. As its customers are central banks, the BIS cannot accept deposits from, or provide financial services to, private individuals or corporate entities.

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REAL PRODUCTION: The market value of all production measured in constant prices, after adjusting for inflation. Real production is typically measured with real GDP.

     See also | real | real gross domestic product | gross domestic product | price level | inflation | nominal gross domestic product | GDP price deflator | purchasing power | real interest rate | real wage |


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GROSS DOMESTIC PRODUCT, INS AND OUTS

Gross domestic product is the total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. Obtaining this value is not a simple task. It requires combining a lot of information from a number of different sources. For the U.S. economy, this includes trillions of dollars worth of production, hundreds of million of consumers, hundreds of thousands of businesses, and a bunch of market transactions each year.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?

Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. "

-- Martin Luther King Jr., civil rights leader

LRAC
Long Run Average Cost
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