|
|
POTENTIAL GROSS DOMESTIC PRODUCT: The total output that the economy could produce if resources were at full employment. If the economy is at full employment (a 5 percent unemployment rate) then actual gross domestic product is equal to potential gross domestic product. Of course, if the unemployment rate is greater than 5 percent, then actual production is less potential production. By calculating potential gross domestic product, we can figure out exactly how far below this potential we are. This information then can be used by the pointy-headed government economists to recommend appropriate monetary or fiscal policies.
Visit the GLOSS*arama
|
|
|
|
|
ALLOCATION The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for cardboard boxes.
Your Complete Scope
This isn't me! What am I?
|
|
|
The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
|
|
|
"Anything's possible. You can be told you have a 90% chance or a 50% chance or a 1% chance, but you have to believe, and you have to fight. " -- Lance Armstrong, cyclist
|
|
AAT
Association of Accounting Technicians
|
|
|
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
|
|
