Notes on "Economic Growth"
Typically policy set by a central government authority, whereby spending by the government is adjusted to stabilize economic activity.
Shortages that result from spending in excess of revenue.
Measure of the change in real GDP over periods of time; percent change in value of the sum of goods and services produced in a country’s natural borders over a specified time interval.
The cost of money; Nominal interest is the prevailing rate; real interest reflects the prevailing rate adjusted for inflation (real = nominal rate minus the inflation rate); Return on investment where return varies based on the risk profile of the investment, time horizon, opportunity cost of a comparable risk-free investment and inflation expectations.
The amount of a foreign currency obtained by exchanging a specified amount of domestic currency.