Examlex
Lee can pick 30 apples in one hour.He can pick 60 kiwifruit in half an hour.The opportunity cost to Lee of picking one apple is four kiwifruit.
Population
The total number of people inhabiting a particular territory or geographic area.
GDP Deflator
An economic metric that converts the money-value measure of GDP to a measure of real GDP by accounting for inflation or deflation.
GDP Deflator
A measure that reflects the prices of all goods and services produced domestically, accounting for inflation within a country's economy.
Base Year
A reference year against which economic growth, price changes, or other data is compared in indexes or other statistical measures.
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