Examlex
Supreme Court decisions are automatically implemented.
Base Year
A specific year against which economic growth or other economic indexes are measured, serving as a point of comparison for future or past data.
Hypothetical Country
A theoretical or imaginary nation used for the sake of argument or analysis in economic models or discussions.
Real GDP
Real Gross Domestic Product measures a country's economic output adjusted for price changes, such as inflation or deflation, to reflect the true value of goods and services produced.
Recession
A phase of short-term economic downturn where business activities and manufacturing diminish, usually signaled by two successive quarters of GDP decrease.
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