For years, measuring economic welfare has been pretty straightforward. Classic economics obsess over a single value: gross domestic product. Luckily, economic paradigms are shifting, and experts are ...

Seriously. How are you feeling about your economic situation? Because the unemployment rate is still near generational lows, inflation is down to 3.2%, and gross domestic product, or GDP, grew at a ...

The most basic and comprehensive measure of the U.S. economy is gross domestic product, or GDP. It’s a measure followed by investors, economists, and policymakers like the president of the United ...

“Measurement theory shows that strong assumptions are required for certain statistics to provide meaningful information about reality. Measurement theory encourages people to think about the meaning ...

Diane Coyle’s new book, GDP: A Brief But Affectionate History, is a timely contribution to discussions of modern economic performance. She argues that Gross Domestic Product increasingly ...

Since last summer the nation’s Gross Domestic Product (GDP) has gone up — indeed, it grew at a surprising 5.7% rate in the 4th quarter — seeming to confirm what we’ve been hearing: the recession is ...

What exactly is GDP measuring. It surely is not measuring the state of the population as personal income growth continues to become a smaller share of overall USA spending,. And when one looks at ...

The Bureau of Economic Analysis released its third estimate of second-quarter GDP — a revised look at how much the economy grew between the beginning of April and the end of June. Today’s update did ...

The revised GDP framework will incorporate AIDIS 2019 data for dwelling repair and maintenance costs, replacing AIDIS 2013 ...

For most of the last seven decades, which is to say about as long as economists have been calculating what's now called "gross domestic product," it's been criticized for being, well, too gross.

Define GDP Explain the difference between real and nominal GDP Explain, using an example, one limitation of using GDP as a measure of living standards Why, despite being aware of its shortcomings, do ...