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Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
A nominal income target is a monetary policy target. Such targets are adopted by central banks to manage [1] national economic activity. Nominal aggregates are not adjusted for inflation. Nominal income aggregates that can serve as targets include nominal gross domestic product (NGDP) and nominal gross domestic income (GDI). [2]
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The Taylor rule is a monetary policy targeting rule. The rule was proposed in 1992 by American economist John B. Taylor [1] for central banks to use to stabilize economic activity by appropriately setting short-term interest rates. [2] The rule considers the federal funds rate, the price level and changes in real income. [3]
Price level targeting is a monetary policy that is similar to inflation targeting except that CPI growth in one year over or under the long-term price level target is offset in subsequent years such that a targeted price-level trend is reached over time, e.g. five years, giving more certainty about future price increases to consumers. Under ...
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as from a firm's other products.
The Philippines’ inflation target is measured through the Consumer Price Index (CPI). For 2009, inflation target has been set to be 3.5 percent, having a 1% tolerance level, and 4.5 percent for 2010, also having 1% tolerance. Also, the Monetary Board of the Philippines announced a target of around 4±1 percent from 2012 to 2014. [14]
In marketing, segmenting, targeting and positioning (STP) is a framework that implements market segmentation. [1] Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. [ 2 ]