Examlex
Current estimates suggest that 75% of the home-based computers in a foreign country have access to on-line services.Suppose 20 people with home-based computers were randomly and independently sampled.Find the probability that fewer than 10 of those sampled currently do not have access to on-line services.
Full Employment
Describes a situation where all available labor resources are being used in the most economically efficient way, typically with very low unemployment.
Production Possibilities Frontier
A diagram displaying the peak output scenarios for two different goods, given certain resources and influencing factors.
Economic Growth
An upswing in economic output regarding goods and services over a given time interval, typically evaluated using the Gross Domestic Product.
Improving Technology
The process of developing and applying new and better techniques, tools, and machines to increase efficiency, productivity, and quality in production or services.
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