Examlex
Ethics is defined as the _____ code of principles that sets standards of good or bad, or right or wrong, in one's conduct.
GDP
Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
Real GDP
The measure of a country's economic output adjusted for price changes (inflation or deflation), providing a more accurate reflection of an economy's size and growth.
Price Level
The average of the current prices of goods and services in an economy, which can influence purchasing power and inflation.
Inflation
The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling. Central banks attempt to limit inflation, and avoid deflation, in order to keep the economy running smoothly.
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