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Tuesday, September 23, 2008

Bad economics from the Associate Press?

From this article linked from Drudge comes an interesting definition for national income:
GDP is a measure of growth, and a decline correlates with a recession.
A decline in GDP might correlate with a recession, but I am not sure how GDP, a stock measure, can be used to measure growth. The sentence confuses the measure of gross domestic product, a value that is fixed at a point in time, with the change in GDP, which might be a measure of growth.

Oh well.

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