The United States, China, and Japan are the world’s three largest economies in terms of nominal GDP. A variety of factors influence economic growth and prosperity, including workforce education, production output (as indicated by physical capital investment), natural resources, and entrepreneurship. As outlined below, the economies of the United States, China, and Japan each have […]
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In purchasing power standards, gross domestic product (GDP) refers to the total value of a country’s or region’s GDP. It’s computed by multiplying GDP by the purchasing power parity (PPP), which is an exchange rate that eliminates price discrepancies between countries. With an example, what is PPP GDP? Purchasing power parity is an economic phrase
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GNP includes goods and services generated outside a country’s borders by its own inhabitants and businesses, but GDP excludes them. GNP excludes goods and services generated within a country’s borders by foreign citizens and businesses, but GDP includes them. What do GNP and GDP have in common? While GDP confines its interpretation of the economy
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The annual inflation rate in the United States is anticipated to grow to 7.9% in February 2022, the most since January 1982, and core inflation to 6.4 percent, the highest in 40 years. The monthly rate is 0.8 percent, which is higher than the 0.6 percent reported in January. What will be the rate of
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Trading can, however, take place outside of regular stock market hours. On days when there is a regular session, for example, there is “pre-market” trading, which can begin as early as 4 a.m. and continue until the market opens at 9:30 a.m. There are also “after-hours” seminars, which take place between 4 and 8 p.m.
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You have a sizable emergency fund. Always try to save enough money to cover three to six months’ worth of living expenditures, with the latter end of that range being preferable. If you happen to be there and have any spare cash, feel free to invest it. If not, make sure to set aside money
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Brendan draws on his economic basics coursework in an attempt to make sense of Federal Reserve Chairman Ben Bernanke’s perplexing explanation for recent price hikes. Federal Reserve Chairman Ben Bernanke attempts to downplay criticism about potentially indiscriminate pricing hikes in a string of recent speeches. What we’re witnessing is what he refers to as a
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GDP is the most often used metric of well-being and is a valuable indicator of a country’s economic performance. It does, however, have some significant drawbacks, including: Non-market transactions are excluded. The failure to account for or depict the extent of income disparity in society. Why is GDP such a bad metric? In reality, “GDP
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The Consumer Price Index (CPI) is a statistic that estimates the average change in the prices of a market basket of goods and services. These products are purchased for consumption by the index’s two groups: All Urban Consumers (CPI-U) and Urban Wage Earners and Clerical Workers (CPI-W) (CPI-W). The CPI, the most extensively used metric
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Between 2007 and 2009, the Great Recession was a period of substantial overall deterioration (recession) in national economies around the world. The severity and timing of the recession differed by country (see map). The International Monetary Fund (IMF) declared it the worst economic and financial crisis since the Great Depression at the time. As a
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