Exists when the production of a good imposes disutility (the spillover costs) upon third parties not directly involved in the consumption or production of this good.

A rising interest rate increases foreign demand for u.s. dollars. The dollar then appreciates in value, causing net exports from the u.s. to fall. Falling net exports decreases ad, which lessens the impact of the expansionary fiscal policy.

The value of current production at the current prices.

Today’s income measured in today’s dollars. These are dollars unadjusted by inflation.

The percentage increase in money that the borrower pays the lender and is equal to the real rate plus the expected inflation.

Household work or do-it-yourself jobs are missed by gdp accounting. The same is true of g transfer payments and purely financial transactions.

resources that cannot replenish themselves. Coal is a good example.

A good for which higher income increases D.