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Friday, January 30, 2015

As US Growth Slows in Q4, Inflation Turns Negative

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The Bureau of Economic Analysis reported today that the growth rate of real GDP slowed to anannual rate of 2.6 percent in the fourth quar...
Monday, January 19, 2015

Consumer and Producer Surplus: A Slideshow-Tutorial

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Consumer and producer surplus are useful concepts for explaining many points of microeconomic theory and policy. Applications include gains...
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The Economics of a Soda Tax

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The idea of a soda tax is not new. Such a tax is supposed to have a double dividend by raising revenue and, a t the same time, attacking th...
Sunday, January 18, 2015

Prices are Falling in the Eurozone, but is it "Real" Deflation?

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The Eurozone has been on the brink of deflation for months. The latest data show that for the first time, consumer prices for the currency...
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Saturday, January 10, 2015

As Unemployment Rate Falls to New Low, How Much Slack Remains in the Labor Market?

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The Bureau of Labor Statistics reported today that the unemployment rate dropped to 5.6 percent in December, a new low for the recovery. Fo...
Tuesday, January 6, 2015

Where has Fiscal Policy Been Worse, Greece or the US?

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The snap election in Greece is shaping up as a referendum on five years of austerity that many Greeks view as a disaster. The US economy i...
Monday, December 29, 2014

The Opportunity Cost of Driving Your Car Has Never Been Lower

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In August, I posted an item showing  how many miles you could drive your car on an hour’s wages . At that time, the average US price for ga...