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December 7, 2024 

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MAJORITY RULE: A voting rule in which decisions are made based on the majority of those casting a vote. That is, the candidate or program receiving the majority of the votes is the winner. The majority is defined as one vote more than fifty percent of the total number of votes cast. If 100 votes are cast, the majority is 51 votes. If 100 million votes are cast, the majority is 50 million and one (50,000,001). This is perhaps the most common of several voting rules. Others include super majority, unanimity, and plurality.

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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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REAL PRODUCTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: December 7, 2024].


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BALANCE OF PAYMENTS

A comprehensive set of accounts that tracks the flow of currency and other monetary assets coming in to and going out of a nation. These payments are used for international trade, foreign investments, and other financial activities. The balance of payments is divided into two accounts -- current account (which includes payments for imports, exports, services, and transfers) and capital account (which includes payments for physical and financial assets). A deficit in one account is matched by a surplus in the other account. The balance of trade is only one part of the overall balance of payments set of accounts.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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