An economic term referring to a specific type of price index formed by averaging the Laspeyres and Paasche indices.
Method of calculating domestic product using expenditure data from various economic sectors.
An economic measure weighted by current period quantities used to compare the cost of a basket of goods/services over different time periods.
A discrepancy between the observed value of a variable and its true value due to chance or imprecise measurement.
The economic component of people’s welfare measured by various factors.
The concept of a util as a theoretical unit of measurement for utility in economics.
An index of the real level of production or consumption in a certain economy or part of it.
