The Great Recession lasted from December 2007 to June 2009, making it the longest downturn since World War II. The Great Recession was particularly painful in various ways, despite its short duration. From its peak in 2007Q4 to its bottom in 2009Q2, real gross domestic product (GDP) plummeted 4.3 percent, the greatest drop in the […]
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The Japanese economy has been in a state of stagnation since 1990, and COVID-19 has exacerbated the problem. The recovery from the COVID-19 epidemic in Japan is still incomplete, and maintaining it will be crucial. Japan’s reliance on China as a platform for its manufacturing investments has been underlined by supply chain concerns, growing labor
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When budgeting for retirement, financial gurus recommend considering a 3% yearly inflation rate. That is, in fact, a greater rate than the government has calculated in recent years. The Bureau of Labor Statistics calculates the current Consumer Price Index (CPI) by tracking monthly average prices of consumer goods. The CPI is defined as “a measure
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From Q2 2009 to Q4 2016, economic growth, as measured by the change in real GDP, averaged 2.0 percent. This was slower than the 2.6 percent average from the first quarter of 1989 through the fourth quarter of 2008. During President Bush’s first term, real GDP increased by about 3%, but barely 0.5 percent during
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To listen to the podcast, press play on the player above and follow along with the transcript below. In its current form, this transcript was created automatically and then edited for clarity. Between the audio and the text, there may be some discrepancies. Republican attempts to invalidate state-ordered congressional districting schemes in North Carolina and
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Inflation is defined as a steady increase in overall price levels. Inflation that is moderate is linked to economic growth, whereas high inflation can indicate an overheated economy. Businesses and consumers spend more money on goods and services as the economy grows. What exactly is inflation? What are the reasons, and what is the economic
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Buying a home during a recession will, on average, earn you a better deal. As the number of foreclosures and owners forced to sell to stay afloat rises, more homes become available on the market, resulting in reduced housing prices. Because this recession is unlike any other, every buyer will be in a unique position
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The United States’ annual inflation rate has risen from 3.2 percent in 2011 to 4.7 percent in 2021. This suggests that the dollar’s purchasing power has deteriorated in recent years. What will be the rate of inflation in 2020? In 2020, the inflation rate was 1.23 percent. Inflation is presently 7.87 percent higher than it
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The inevitable recession caused by the coronavirus pandemic may not seem like the best moment to consider starting your own business. People will lose their jobs, customers will spend less, and many businesses may go out of business. However, as contradictory as it may appear at first, starting a business in a downturn can have
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At the end of the year, they are commodities in the last stages of manufacture. Statisticians calculating GDP must avoid the error of double counting, which involves counting output multiple times as it moves through the stages of production. What effect does double counting have on GDP? What is the meaning of double counting? To
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