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An economic impact analysis typically measures or estimates the change in economic activity between two scenarios, one assuming the economic event occurs, and one assuming it does not occur (which is referred to as the counterfactual case). This can be accomplished either before or after the event (ex ante or ex post).
An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles .
It is a period of economic growth as measured (for example) by a rise in real GDP. [1] [failed verification] [2] The explanation of fluctuations in aggregate economic activity between economic expansions and contractions ("booms" and "busts" within the "business cycle") is one of the primary concerns of macroeconomics. [3]
A positive externality (also called "external benefit" or "external economy" or "beneficial externality") is the positive effect an activity imposes on an unrelated third party. [33] Similar to a negative externality, it can arise either on the production side, or on the consumption side.
The slowdown in economic activity led to the recession of 1953, bringing an end to nearly four years of expansion. May 1954– Aug 1957 39 +2.5% +4.0%: Expansion resumed following a return to growth in May 1954. Employment and GDP growth slowed relative to the previous two expansions. April 1958– April 1960 24 +3.6% +5.6%
Up to the present, there is a close correlation between economic growth and the rate of carbon dioxide emissions across nations, although there is also a considerable divergence in carbon intensity (carbon emissions per GDP). [164] Up to the present, there is also a direct relation between global economic wealth and the rate of global emissions ...
The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are many definitions of a business cycle. The simplest defines recessions as two consecutive quarters of negative GDP growth. More satisfactory ...
In a single-goods case, a positive economic profit happens when the firm's average cost is less than the price of the product or service at the profit-maximizing output. The economic profit is equal to the quantity of output multiplied by the difference between the average cost and the price.