The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
Greg Ipamazon.com
The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
How do you know a recession has occurred? Easy: a press release goes out.
A dollar invested to produce more stuff tomorrow is a dollar not available to spend on stuff today. Thus, for someone to invest a dollar, someone else must save a dollar; and so a key ingredient of growth is saving.
The share of the working-age population either working or looking for work is called the labor force participation rate.
productivity far less than his first. This is the law of diminishing returns.
In a nutshell, growth rests on two building blocks: population and productivity. 1. Population determines how many workers a country will have. 2. Productivity, or output per worker, determines how much each worker earns.
Harry Truman said “a recession [is] when your neighbor loses his job; it’s a depression when you lose yours.”
according to the Economist, is that a depression is a contraction in economic activity of at least 10 percent or lasting at least three years.
Expenditure-based GDP. Total of all the money spent on stuff. 2. Income-based GDP. Total of all the money earned producing stuff.
The unemployment rate is the single best signpost of the economy’s health. When the economy reaches full strength, the unemployment reaches its so-called natural rate.