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When there are sustained increases in real GDP over time we say that the economy is undergoing?
Economic growth. Since that is basically the definition of a growing economy, steady increase in GDP
What is the difference between price level and the rate of inflation in an economy?
The price level is a measure of the average price in an economy and is measured at a point in time.. The rate of inflation is the rate of change of the price level over time. Strictly speaking, economists define inflation as a continued increase in the price level as opposed to a one time price level adjustment.
What does the inflation rate soars mean?
# The Inflation Rate Soars means the rate of increase in the price of goods and services over a given period of time increases tremendously.
What is a general price increase?
A "general price increase" is the term commonly used to describe an increase in price levels across a broad spectrum of goods and services rather than, say, an increase in just oil prices, perhaps due to a "one time" event like a hurricane in a refinery area, or a war in the Middle East.
Why is inflation not considered when the basic concept that money has time value is discussed?
Inflation is not considered when the basic concept of money has time value because it is a sustained increase in the general price level of goods and services in an economy over a period of time. If the general price level rises, each unit of currency buys fewer goods and services.
A steady increase in prices over time?
inflation
When there are sustained increases in real GDP over time we say that the economy is undergoing?
Economic growth. Since that is basically the definition of a growing economy, steady increase in GDP
What does steady temperature?
Steady temperature is the temperature which does not vary over time but remains constant with the changing time. Usually this steady state is achieved and we record the different readings to anlayse a process its efficiency.
Is acceleration is possible during steady flow?
the term steady implies no change at a point in time, however particle speed can change from point to point. ie, water novel, steady flow with increase in velocity
A disease that has a steady frequency over time in population is?
endemic
What is the difference between price level and the rate of inflation in an economy?
The price level is a measure of the average price in an economy and is measured at a point in time.. The rate of inflation is the rate of change of the price level over time. Strictly speaking, economists define inflation as a continued increase in the price level as opposed to a one time price level adjustment.
What is the increase of velocity over a period of time is?
Increase of velocity over a period of time is called acceleration.
What is a steady drop in the market for stacks over time is called?
A bear market.
What does the inflation rate soars mean?
# The Inflation Rate Soars means the rate of increase in the price of goods and services over a given period of time increases tremendously.
What is asteady friend?
A steady friendship is one that stand the taste of time. Such friendship are built over a long period of time.
Would you expect the standard of living to increase or decrease over time?
Increase
How long has the universe existed going by the Steady State Theory?
The steady-state theory is obsolete - it is now known that the Universe does change over time (the Steady-State Theory states that it doesn't). According to the Steady-State Theory, the Universe has no beginning and no end.
