Glossary

Fluctuations in the overall rate of national economic activity with alternating periods of expansion and contraction; these vary in duration and degrees of severity; usually measured by real gross domestic product (GDP).
 * Business Cycles**

Economic Growth
An increase in real output as measured by real GDP or per capita real GDP.

Gross Domestic Product (GDP)
The market value of all final goods and services produced in a country in a calendar year.

Macroeconomic Indicators
Macroeconomic indicators include Gross Domestic Product (GDP), Gross National Product (GNP), New Durable Goods orders, Retail Sales Indicator, New Home/Construction Sales, and Stock Prices

=Economic indicator= [|Statistical] [|data] showing general [|trends] in the [|economy]. Those with predictive [|value] are [|leading indicators] ; those occurring at the [|same] time as the [|related] [|economic] [|activity] are [|coincident indicators] ; and those that only become apparent after the activity are [|lagging indicators]. Examples are [|unemployment], [|housing starts] , [|Consumer Price Index] , [|industrial production] , [|bankruptcies] , [|GDP] , [|stock market] prices, [|money supply] [|changes] , and housing [|starts]. **also called** [|business] [|indicators] .\

**nominal GDP** The GDP in that year's prices. For example, the 1981 GDP in 1981 dollars. Thus nominal GDP does not account for inflation

**GDP per capita** An approximation of the value of goods produced per person in the country, equal to the country's GDP divided by the total number of people in the country.