Economy and Government debt

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Difference between Economy and Government debt

Economy vs. Government debt

An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents. Government debt (also known as public interest, public debt, national debt and sovereign debt) is the debt owed by a government.

Capital (economics)

In economics, capital consists of an asset that can enhance one's power to perform economically useful work.

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Consumption (economics)

Consumption is the process in which consumers (customers or buyers) purchase items on the market.

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Currency

A currency (from curraunt, "in circulation", from currens, -entis), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.

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Debt

Debt is when something, usually money, is owed by one party, the borrower or debtor, to a second party, the lender or creditor.

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Economic growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

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Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

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Gross domestic product

Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time.

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Interest rate

An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed (called the principal sum).

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John Kenneth Galbraith

John Kenneth Galbraith (October 15, 1908 - April 29, 2006), also known as Ken Galbraith, was a Canadian-born economist, public official, and diplomat, and a leading proponent of 20th-century American liberalism.

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John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

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Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

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Real versus nominal value (economics)

In economics, a real value of a good or other entity has been adjusted for inflation, enabling comparison of quantities as if prices had not changed.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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Value (economics)

Economic value is a measure of the benefit provided by a good or service to an economic agent.

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