Absolute (Money) Price

Double Counting Counting a good more
than once when computing GDP.
Dow Jones Industrial Average (DJIA)
The most popular, widely cited indicator of
day-to-day stock market activity; a weighted
average of 30 widely traded stocks on the
New York Stock Exchange.
Dumping The sale of goods abroad at a
price below their cost and below the price
charged in the domestic market.
E
Economic Growth Increases in Real GDP.
Economic Profit The difference between
total revenue and total cost, including both
explicit and implicit costs.
Economic Rent Payment in excess of
opportunity costs.
Economics The science of scarcity; the
science of how individuals and societies deal
with the fact that wants are greater than the
limited resources available to satisfy those
wants.
Economies of Scale Economies that
exist when inputs are increased by some
percentage and output increases by a greater
percentage, causing unit costs to fall.
Efficiency The condition when marginal
benefits equal marginal costs.
Efficiency Wage Models Models holding
that it is sometimes in the best interest of
business firms to pay their employees higherthan-equilibrium wage rates.
Elastic Demand The demand when the
percentage change in quantity demanded is
greater than the percentage change in price.
The quantity demanded changes proportionately more than price changes.