Create an account
spending by households on goods and services, with the exception of purchases of new housing
a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100
gross domestic product (GDP)
the market value of all goods and services produced within a country in a given period of time
spending on capital equipment, inventories, and structures, including household purchases of new housing
the study of economy-wide phenomena, including inflation, unemployment, and economic growth
the study of how households and firms make decisions and how they interact in markets
spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)
consumer price index (CPI)
a measure of the overall cost of the goods and services bought by a typical consumer
the automatic correction of a dollar amount for the effects of inflation by law or contract
nominal interest rate
the interest rate as usually reported without correction for the effects of inflation
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