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October 31, 2024 

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COINCIDENT ECONOMIC INDICATOR: One of four economic statistics that tend to move up and down with the expansions and contractions of the business cycle. You can get a pretty good idea of what our economy's doing RIGHT NOW by looking at these. Coincident economic indicators are measurements that move with the aggregate economy. When a contraction starts, these indicators decline. During an expansion. these indicators rise. These indicators, and their siblings, leading economic indicators and lagging economic indicators are compiled by their parents, those pointy-headed economist at National Bureau of Economic Research.

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PRODUCTION POSSIBILITIES: The alternative combinations of goods produced if the economy fully uses all available resources. Production possibilities of an economy are limited because resources used to produce goods and services are limited. The basic presentation of production possibilities often takes the form of a production possibilities schedule, which is a table of numbers illustrating a discrete number of production bundles. A slightly more advanced presentation is through a production possibilities curve (or frontier), which is a graph of the alternative production bundles.

     See also | production | economy | resources | production possibilities curve | production possibilities frontier | production possibilities schedule |


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PRODUCTION POSSIBILITIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: October 31, 2024].


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ELASTICITY AND SUPPLY INTERCEPT

The intersection of a straight-line supply curve with vertical price axis and/or horizontal quantity axis reveals the relative price elasticity of supply. Intersection with the horizontal quantity axis means inelastic and intersection with the vertical price axis means elastic. Intersection with the origin means unit elastic supply.

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