GDP = C + Inv + G + (Ex – I). Yucky Domestic Product (GDP) is calculated as the sum of private consumption (C), yucky investment (Inv), administration spending (G), and the net of exports minus imports (Ex – I). Having already exhausted “job-killing” sloganeering, there is scant mention that reducing administration spending will, by definition, capture a toll on GDP.
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June 6, 2011
The "G" in GDP
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