Business, Politics, & Society

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When only one company controls an entire industry—or even a sizeable percentage of that industry—the company is said to have a monopoly. Traditionally, monopolies benefit the co...

May 31, 2019

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Calculating a country’s income is incredibly useful for determining the country’s economic activity. There are many ways to calculate the national income of a country, but regar...

May 29, 2019

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In economics, Gross Domestic Product (GDP) is used to calculate the total value of the goods and services produced within a country’s borders, while Gross National Product (GNP)...

May 29, 2019

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Nominal GDP measures a country’s total economic output (goods and services) as valued at current market prices. Nominal GDP offers a snapshot of a national economy’s value but s...

May 23, 2019

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Real GDP adjusts for inflation and is the most accurate portrait of an economy’s trajectory. By removing inflation as a variable, real GDP can tell economists if a nation’s econ...

May 23, 2019

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What drives economic growth: supply or demand? It’s one of the most fundamental and fiercely argued debates in economics. How economists and administrations come down on this qu...

May 23, 2019

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There’s almost nothing more contentious in the world of trade than tariffs. They’ve been around for as long as people have been trading goods across seas and states. To this day...

May 23, 2019

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How do you gauge the overall health of an economy? Most economists and governments use Gross Domestic Product, also known as GDP, or real GDP. GDP represents the total market va...

May 22, 2019

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British economist John Maynard Keynes is the father of modern macroeconomics, developing his own school of economic thought. Keynes’s early-1900s economic theories had a huge im...

May 21, 2019

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