The Money Farm Team

Who Measures GDP?

Gross domestic product, or GDP, is the most widely used indicator of national economic growth. The Bureau of Labor Statistics (BLS) of the United States collects and compiles economic data. The Bureau of Economic Analysis, or BEA, which is part of the Department of Commerce, uses the data once it has been organized to estimate […]

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What Is The Relationship Between Inflation And Unemployment?

The Phillips curve shows that historically, inflation and unemployment have had an inverse connection. High unemployment is associated with lower inflation or even deflation, whereas low unemployment is associated with lower inflation or even deflation. This relationship makes sense from a logical standpoint. When unemployment is low, more people have extra money to spend on

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