A Simple View of the Economy Helps Us Understand Growth
Update: 2024-03-21
Description
Let’s think about the economy in the simplest possible way. People use tools to make goods and services, which other people buy. Gross domestic product is our measure of the value of goods and services. It grew 2.5 percent above inflation in 2023. We can use the simple view of the economy to figure out why GDP grew this much, and what will make it grow in the future.
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