Examlex
If a firm produces its mix of output at the lowest possible cost,it is said to achieve production efficiency.
Recession
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Deflation
A sustained decrease in the price level.
Growth
An increase in the economic capacity of a country to produce goods and services, compared from one period of time to another.
Stock Variable
A quantity measured at one specific time, contrasting with flow variables, which are measured over a period of time.
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