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REAL GDP: 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 GDP.
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SHUTDOWN RULE A rule stating that a firm minimizes economic loss by producing no output in the short run if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is less than average total cost but greater than average variable cost).
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"The only profit center is the customer. " -- Peter Drucker, management consultant
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TSE
Toronto Stock Exchange
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