Creeping inflation refers to slow but continuous inflation that appears manageable over short periods but can lead to substantial long-term price increases if left unchecked.
Current dollars refer to the cost of an asset in terms of today’s price level, adjusted for inflation. For example, if today the Consumer Price Index (CPI) is 180, an automobile that cost $20,000 when the CPI base was 100 would cost $36,000 in current dollars.
Derived demand refers to the demand for capital goods and labor, used in production, which indirectly stems from the demand for the final goods and services that these inputs help to produce.
Economic benefits represent the gains realized from an improvement in facilities or services provided by a government or local authority, usually expressed in financial terms.
Minting of money refers to the production, usually by the government, of currency, particularly coins.
The term 'movement' has multiple interpretations in various disciplines including economics, politics, and social sciences. In economics, it generally refers to price changes or fluctuations in a market. However, in a broader context, it can also signify a political action or social campaign aimed at instigating change.
An often derisive acronym referring to the heavily indebted Southern European nations of Portugal, Ireland, Italy, Greece, and Spain.
A rigid price (also referred to as an administered price) is a pricing strategy wherein the price of a product or service remains unchanged despite ongoing shifts in market demand and supply conditions.
Stagnation refers to a period of no or slow economic growth, or economic decline in real (inflation-adjusted) terms. Economic growth of about 1% or less per year is generally taken to constitute stagnation.
A U-shaped recovery is a type of economic recovery characterized by a gradual decline followed by a slow, but steady rebound in economic growth, typically measured by Gross Domestic Product (GDP).
The term 'work force' or 'labor force' refers to the total number of people who are eligible and willing to work, either currently employed or actively seeking employment. In economic terms, it encompasses both the employed and the unemployed who are looking for jobs, excluding those who are not seeking employment, such as retirees, students, or homemakers.
