Share This Article:

Economic Definition of long-run trend. Defined.

Offline Version: PDF

Term long-run trend Definition: The general movement over time of particular measurement, especially one prone toward shorter term fluctuations. One of the most important long-run trends in the study of macroeconomics is for real GDP. The long-run trend of real GDP, which has historically increased about 3% a year, indicates the increase in the economy's production capabilities. Such capabilities have increased due to increases in the quantity and quality of resources.

 

« long-run total cost | Lorenz curve »

Permalink: http://glossary.econguru.com/economic-term/long-run+trend

Alphabetical Reference to Over 2,000 Economic Terms