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GDP per capita measures (like aggregate GDP measures) do not account for income distribution (and tend to overstate the average income per capita). For example, South Africa during apartheid ranked high in terms of GDP per capita, but the benefits of this immense wealth and income were not shared equally among its citizens. [78]
How the health of the economy is measured, and why the GDP calculation matters.
Thursday’s revised gross domestic product figure was a clear indication the U.S. economy is faring pretty well, according to an economist. “The GDP revisions show the U.S. economy was in good ...
And while the increase in GDP may be the primary method of measurement, there is much more, such as forming or greatly changing productive relationships, migrating firms and workers to cities up to affecting human capital and technology. This means that as an economic structure transforms, and since it is related to capital intensity, capital ...
In 1957 South Korea had a lower per capita GDP than Ghana, [33] and by 2008 it was 17 times as high as Ghana's. [34] The Japanese economic growth has slackened considerably since the late 1980s. Productivity in the United States grew at an increasing rate throughout the 19th century and was most rapid in the early to middle decades of the 20th ...
Gross domestic product, or GDP, represents the total value of all goods and services produced within a country during one year. Depending on the report, one year can be either one fiscal year or ...
GDP is a measure of both the economic production and income. The Economist reported in August 2014 that real (inflation-adjusted) GDP growth averaged about 1.8 percentage points faster under Democrats, from Truman through Obama's first term, which ended in January 2013. [2]
We explain why the higher economic growth in the third quarter may not be as good as it seems. We’ll also look at trouble brewing for a key financial regulator and another record broken by ...