Economics of Financial Markets Basic Definitions

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  • Basic definitions
    • GDP
      • The market value of all goods and services produced in the domestic economy in a particular year.
      • Aggregate output
    • Aggregate income
      • Total income of the factors of production in a particular year
    • National account
      • Aggregate Income= Aggregate Output
    • Nominal Value
      • A value expressed in units of currency
    • Real Value
      • The nominal value adjusted for the effect of inflation
    • Compound Interest
      • The longer funds are invested the greater the advantage

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