Business Statistics of the United States: Patterns of by Cornelia J. Strawser

By Cornelia J. Strawser

Company data of the U.S. is a finished and functional number of information proper to the nation's monetary functionality when you consider that international conflict II. It offers as much as seventy seven years of annual information in nearby, demographic, and commercial element for key symptoms reminiscent of gross family product, own source of revenue, spending, saving, employment, unemployment, the capital inventory, and extra. This book a long way surpasses the industrial document of the President in offering ancient info and invaluable information regarding definitions, assets, tools, and present statistical controversies which are crucial for knowing and evaluating fiscal measures.

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Extra resources for Business Statistics of the United States: Patterns of Economic Change

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In attempting to explain stagflation, economists now take account of the role of expectations—especially worker expectations about future inflation—in maintaining the momentum of a given inflation rate even in the presence of unemployment. This mechanism is believed by many to explain the worsening of the tradeoff in the 1970s. Many economists were again surprised by the combination of low unemployment and low inflation in the late 1990s. The surprise was greater among those economists who looked to the unemployment rate as the sole measure of resource utilization.

Inflation and unemployment A number of important price indicators are presented in Business Statistics, both in Chapter 8: Prices and Table 1-5, which shows chain-type price indexes for GDP and various subsectors. Users should note that price indexes measure the average level of prices, relative to some base year that is set to equal 100, while “inflation” is the annual percent rate of change in a price index. Accurate measurement of prices is challenging in a dynamic economy. Frequently, biases have been identified in the most widely used price indicators, the official Table B-3.

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