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)
For a country to be rich—that is, for its average citizen to enjoy a high standard of living—it must depend on productivity, which is the ability to make more, better stuff with the labor it already has. Productivity itself depends on two factors: capital and ideas.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
The share of the working-age population either working or looking for work is called the labor force participation rate.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
A farmer’s second tractor will help his
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
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.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
productivity far less than his first. This is the law of diminishing returns.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
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.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
Expenditure-based GDP. Total of all the money spent on stuff. 2. Income-based GDP. Total of all the money earned producing stuff.
Greg Ip • The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits)
fertility drops much below 2.1 babies per woman, the population will shrink unless offset by immigration.
Greg Ip • 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.