Economics

What Happened After The Great Recession?

The recession spread as the financial crisis moved from the United States to other countries, particularly western Europe (where several big banks had extensively invested in American MBSs). Most developed countries experienced economic slowdowns of different severity (China, India, and Indonesia being prominent exceptions), and many of them responded with stimulus programs similar to the […]

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Why Are Transfer Payments Excluded From GDP?

Gross investment and government consumption expenditures: This is a measure of government spending on goods and services that is included in GDP. Consumption expenditures include money spent on the government’s workforce as well as products and services such as military jet fuel and government building and other structure rent. Government expenditures on structures, equipment, and

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