|
|
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
|
|
|
|
|
EXPANSION A phase of the business cycle characterized by a general period of rising economic activity. An expansion is one of two basic business cycle phases. The other is contraction. The transition from expansion to contraction is termed a peak and the transition from contraction to expansion is termed a trough. The early phase of an expansion is commonly termed a recovery.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for telephone calls from former employers.
Your Complete Scope
This isn't me! What am I?
|
|
|
The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
|
|
|
"You just don't luck into things as much as you'd like to think you do. You build step by step, whether it's friendships or opportunities. " -- Barbara Bush, first lady
|
|
MBA
Master of Business Administration
|
|
|
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
|
|
