|
|
GRAPH: A picture, image, or diagram that is used to display information. Graphs are most commonly used in the economics to depict relations between two variables, that is a two-dimensional graph. The market diagram is perhaps the most noted graph used in economics. This graph reflects the market price on the vertical axis and the quantity exchanged on the horizontal axis. The two key relations depicted on the graph are the demand curve, which is an inverse relation between price and quantity, and the supply curve, which is a direct relation between price and quantity.
Visit the GLOSS*arama
|
|
|
|
|
DOUBLE COUNTING The act of including the value of intermediate goods more than once in the value of gross domestic product. Because the value, or price, of final goods includes the cost, or value, of all intermediate goods used in production, including market transactions for intermediate goods separately in the measurement of gross domestic product leads to double counting.
Complete Entry | Visit the WEB*pedia |
|
|
BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for strangers with large satchels of used undergarments.
Your Complete Scope
This isn't me! What am I?
|
|
|
Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
|
|
|
"There is more to life than increasing its speed. " -- Mohandas Gandhi, activist
|
|
ATO
At The Opening
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
