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Flashcards - Understanding Economic Growth and Productivity

Flashcards - Understanding Economic Growth and Productivity
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Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection and expenditure to influence the economy
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Research and development
Research and development , also known in Europe as research and technical development , is a general term for activities in connection with corporate or governmental innovation
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gross domestic product
Gross domestic product is a monetary measure of the market value of all final goods and services produced in a period
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natural resources
Natural resources are resources that exist without actions of humankind
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natural resources
Natural resources are resources that exist without actions of humankind
gross domestic product
Gross domestic product is a monetary measure of the market value of all final goods and services produced in a period
Research and development
Research and development , also known in Europe as research and technical development , is a general term for activities in connection with corporate or governmental innovation
Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection and expenditure to influence the economy
Standard of living
Standard of living refers to the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area
Labor productivity
Workforce productivity is the amount of goods and services that a worker produces in a given amount of time
productivity
Productivity is an average measure of the efficiency of production
income approach
The Income Approach is one of three major groups of methodologies, called valuation approaches, used by appraisers

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