July 2014
Beginner
384 pages
8h 39m
English
Content preview from Economics
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APPENDIXA
Glossary
absolute advantage When an individual or country is better at producing something than its trading partner.
accounting profit The revenue of a business minus the explicit costs and depreciation.
actual unemployment Natural unemployment plus the cyclical unemployment.
aggregate demand The total amount of goods and services demanded in the economy at a given overall price level and in a given time period.
aggregate demand curve A curve on a graph that shows the relationship between the aggregate price level and the quantity of aggregate output demanded by households, businesses, the government, and the rest of the world.
aggregate supply The total supply of goods and services produced within an economy at a given overall ...
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