When you study macroeconomics, you will study how the economy as a whole operates. It differs from microeconomics, where the focus is on individual
What's it: Behavioral economics is a branch of economics on how psychological factors influence and explain economic decision making. It studies
What's it: Total factor productivity quantifies the share of economic growth not explained by increases in labor and capital when both are used
What's it: Foreign exchange reserves are liquid assets denominated in foreign currency held by the central bank or government for future use.
What's it: A capital account is a part of the balance of payments in addition to the current account and financial account. It records the net
What's it: Kondratieff cycle is a long-run economic cycle. That's according to the name of its discoverer, Nikolai D. Kondratieff, a Russian
What's it: Gross national product (GNP) is the total monetary value of the products and services produced by a country's citizen, regardless of where
What's it: Automatic stabilizers are countercyclical fiscal tools. They moderate economic fluctuations without direct government intervention.
Gross investment is the sum of expenditures for new capital purchases and the replacement of depreciated capital. The company buys new capital goods,
Gross domestic private investment represents investment spending by the private sector. This is one component of gross domestic product (GDP) in
Consumption expenditure represents spending by households. It covers purchasing three product categories: durable goods, nondurable goods, and
Under the expenditure approach, gross domestic product (GDP) equals the sum of all spending on final goods and services in a country during a certain