Posts Tagged ‘GDP’

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    Geography Matters

    Apr 15, 11 • 115 Views • Behavioral Economics, Demand, Supply, and Markets, Developing Economies, Households, Innovation, Macroeconomic MeasurementNo Comments

    According to Harvard economist Ed Glaeser, big US cities deserve our attention. Rather like a ripple, first, as ports, they attracted commerce. Commerce led to more affluence. The affluence brought more people. The people wanted better education. Better...

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    SAT Questions

    Apr 4, 11 • 102 Views • Behavioral Economics, Businesses, Macroeconomic MeasurementNo Comments

    NFL draft candidates, supermarket cashiers, and college applicants all share one characteristic: A short-term test. To judge a draft candidate, the NFL might clock a 40-yard run. To decide the productivity of a cashier, researchers have timed how fast items...

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    Replacing Broken Windows

    Mar 24, 11 • 98 Views • Businesses, Economic Debates, Economic History, Economic Thinkers, Macroeconomic MeasurementNo Comments

    During a CNBC interview, former Treasury Secretary Lawrence Summers said that Japan’s massive earthquake “…may lead to some temporary increments, ironically, to GDP, as a process of rebuilding takes place.” Commenting on the interview,...

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    State Finance

    Dec 6, 10 • 141 Views • Government, Households, Thinking EconomicallyNo Comments

    Which state postponed a pension fund payment of $3.1 billion because of big budget problems and had a 2.4% decrease in its real GDP? (Still though, this state has the second highest median income.) The answer? New Jersey. New Jersey, though, is not alone. Jon...

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    Well-Being Yardsticks

    Nov 17, 10 • 98 Views • Developing Economies, Economic Debates, Gender gap, Macroeconomic MeasurementNo Comments

    Having just looked at the “Human Development Report 2010” from the UN, I thought of a former mayor of NYC, Ed Koch. Mayor Koch used to ask, “How am I doing?” Let’s assume that an economy can ask the same question. What yardstick...