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Economic expansion and contraction refer to the overall output of all goods and services, while the terms "inflation" and "deflation" refer to rising and falling prices of commodities, goods and services in relation to the value of money. [4] From a microeconomic standpoint, expansion usually means enlarging the scale of a single company or ...
The economic growth rate is typically calculated as real Gross domestic product (GDP) growth rate, real GDP per capita growth rate or GNI per capita growth. The "rate" of economic growth refers to the geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents ...
Macroeconomics is traditionally divided into topics along different time frames: the analysis of short-term fluctuations over the business cycle, the determination of structural levels of variables like inflation and unemployment in the medium (i.e. unaffected by short-term deviations) term, and the study of long-term economic growth.
Growing the Pie refers to a theory that free market economics grow the size of every slice, and thus raises the standard of living for all participants. This theory proposes that growing the pie is better than redistribution of pie through a centrally controlled economy. Growing the pie is related to the concept of economic liberalism.
The Conference Board’s Consumer Confidence Index for this month climbed to a reading of 102, up from 97.5 in April. Americans of all age groups felt better about the economy, the survey noted.
The economy principle in linguistics, also known as linguistic economy, is a functional explanation of linguistic form. It suggests that the organization of phonology , morphology , lexicon and syntax is fundamentally based on a compromise between simplicity and clarity, two desirable but to some extent incompatible qualities.
The system has “contributed to people living longer,” Gori said, “but not necessarily to living in better health.” You can watch the entire panel from Davos here , on the WEF’s website.
In 1949, during his inaugural speech, President Harry Truman identified the development of undeveloped areas as a priority for the West: "More than half the people of the world are living in conditions approaching misery. Their food is inadequate, they are victims of the disease. Their economic life is primitive and stagnant.