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Alex is 53 years old and has had weakness in his throat and chest for a few months.Now,he is also starting to have general weakness in his arms and legs.The weakness in his legs has gotten so bad that yesterday he fell down when walking across his living room.Alex appears to be showing early signs of:
Base Year Prices
Prices expressed in terms of a specific base year, used to remove the effects of inflation when comparing economic data across different years.
Real GDP
Represents the total economic output of a country, adjusted for inflation, measuring the value of all goods and services produced over a specific time period.
GDP
Gross Domestic Product, which measures the total value of all goods and services produced within a country's borders in a given time period, used as a broad indicator of economic health.
Price Level
Denotes the mean of present prices for all types of goods and services produced in the economy.
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