Economics | Senioritis

Adam Park
June 21, 2023
Economics

The Importance and Limitations of Gross Domestic Product (GDP) as a Measure of Economic Performance

The most comprehensive measure of aggregate output is GDP Gross Domestic Product (GDP) is the most comprehensive measure of aggregate output for an economy. GDP measures the...

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Adam Park
June 21, 2023
Economics

Understanding Thermal Power Plants: Fuel, Boiler, Turbine, Generator, Cooling System, and Emissions.

Thermal power plants – work in the same basic way; they convert the potential energy of a fuel into electricity- runs off coal, natural gas, nuclear power...

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Adam Park
June 21, 2023
Economics

Understanding the Importance and Benefits of a Unit of Account in Modern Economies

unit of account -people accept $ as a way to set prices-allows for comparisons A unit of account is a standardized way of measuring the value of...

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Adam Park
June 21, 2023
Economics

Understanding the Reasons for Falling Stock Prices and Strategies for Investors to Navigate Market Volatility

When stock prices fall an individual’s wealth may decrease and her willingness to spend may decrease. When stock prices fall, it typically means that there is more...

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Adam Park
June 21, 2023
Economics

Understanding the Difference between Stock and Flow Variables in Economics: A Focus on Money as a Stock Variable

When we say that money is a stock variable, we mean that the quantity of money is measured at a given point in time. money is a...

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