|
|
TOTAL PRODUCT: The total quantity of output produced by a firm for a given quantity of inputs. Total product is the foundation upon which the analysis of short-run production for a firm is analyzed. The usual framework is to analyze total product when in a variable input (labor) changes, for a given amount of a fixed input (capital). Two related concepts derived from total product are average product and marginal product.
Visit the GLOSS*arama
|
|
|
|
|
REAL GROSS DOMESTIC PRODUCT 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. A contrasting measure is nominal gross domestic product, which does not adjust for inflation.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
Your Complete Scope
This isn't me! What am I?
|
|
|
A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
|
|
|
"Nothing ever built arose to touch the skies unless some man dreamed that it should, some man believed that it could, and some man willed that it must. " -- Charles Kettering, inventor
|
|
PIH
Permanent Income Hypothesis
|
|
|
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
|
|
