output aggregate
51Phillips curve — The Phillips curve is a historical inverse relation between the rate of unemployment and the rate of inflation in an economy. Stated simply, the lower the unemployment in an economy, the higher the rate of increase in wages paid to labor in that… …
52Compensation of employees — (CE) is a statistical term used in national accounts, balance of payments statistics and sometimes in corporate accounts as well. It refers basically to the total gross (pre tax) wages paid by employers to employees for work done in an accounting …
53Real Business Cycle Theory — (or RBC Theory) is a class of macroeconomic models in which business cycle fluctuations to a large extent can be accounted for by real (in contrast to nominal) shocks. (The four primary economic fluctuations are secular (trend), business cycle,… …
54United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …
55Classical general equilibrium model — The classical general equilibrium model aims to describe the economy by aggregating the behavior of individuals and firms. Note that the classical general equilibrium model is unrelated to classical economics, and was instead developed within… …
56Productivity model — Productivity in economics is the ratio of what is produced to what is required to produce. Productivity is the measure on production efficiency. Productivity model is a measurement method which is used in practice for measuring productivity.… …
57economics — /ek euh nom iks, ee keuh /, n. 1. (used with a sing. v.) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. 2. (used with a pl. v.) financial considerations;… …
58Kentucky — • A state situated between the parallels of latitude 36° 30 and 39°6 N., and between the meridians 82° and 89°38 W Catholic Encyclopedia. Kevin Knight. 2006. Kentucky Kentucky …
59Economic growth — GDP real growth rates, 1990–1998 and 1990–2006, in selected countries …
60Fiscal multiplier — This article is about the effect of spending on national income. For the multiplier effect in banking, see Fractional reserve banking. In economics, the fiscal multiplier is the ratio of a change in national income to the change in government… …
