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Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Household spending United States. In 1929, consumer spending was 75% of the nation's economy. This grew to 83% in 1932, when business spending dropped. Consumer spending dropped to about 50% during World War II due to large expenditures by the government and lack of consumer products. Consumer spending in the US rose from about 62% of GDP in ...
In 2017, over 3 million tests were taken in more than 140 countries, up from 2 million tests in 2012, 1.7 million tests in 2011 and 1.4 million tests in 2009. In 2007, IELTS administered more than one million tests in a single 12-month period for the first time ever, making it the world's most popular English language test for higher education ...
Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. [3]The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to ...
A cloze test (also cloze deletion test or occlusion test) is an exercise, test, or assessment in which a portion of text is masked and the participant is asked to fill in the masked portion of text. Cloze tests require the ability to understand the context and vocabulary in order to identify the correct language or part of speech that belongs ...
This spending is an optional part of fiscal policy, in contrast to social programs for which funding is mandatory and determined by the number of eligible recipients. [2] Some examples of areas funded by discretionary spending are national defense , foreign aid , education and transportation .
Government spending or expenditure includes all government consumption, investment, and transfer payments. [1] [2] In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure.
A vocabulary (also known as a lexicon) is a set of words, typically the set in a language or the set known to an individual. The word vocabulary originated from the Latin vocabulum, meaning "a word, name". It forms an essential component of language and communication, helping convey thoughts, ideas, emotions, and information.