Term
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Definition
| the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country (Gross nationtal income is a part of this) |
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Term
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Definition
| a measure that is similar to GDP but GNI does not include income earned by foreigners who own resources in that nation |
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Term
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Definition
| the number of babies born per 1,000 people- has fluctuated greatly in the last 50 years |
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Term
| Metropolitan Statistical Area (MSA) |
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Definition
| an integrated economic and social unit with a large population nucleus; 50,000 or more inhabitants |
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Term
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Definition
| income that is adjusted to take out the effects of inflation on purchasing power |
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Term
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Definition
| the amount of income that is left after taxes |
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Term
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Definition
| what is left of disposable income after paying for necessities |
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Term
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Definition
| people whose children are grown and who are now able to spend theirm money in other ways; usually in the 50-64 age group |
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Term
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Definition
| people over 65; number is increasing rapidly because of modern medicine |
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