Within most countries, government statisticians provide regular estimates of aggregate output and expenditure in real terms, after correction for price changes over time.
What it would do is shift economic activity from the less productive government sector to the more productive private sector, thereby stimulating aggregate output and growth.
Short-term business debt levels continue to expand in the first quarter alongside higher aggregate industrial output data, Fed reports show, even as high-grade issuers continue to refinance short-term debt balances at a steady clip this year.
FORBES: Economy: Short-term Business Borrowing Hits Highest Level Since 2001
Against this backdrop, several up and coming companies are in various stages of development to construct mines that in aggregate would dwarf the output of Intrepid Potash.
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As I have explained here many times, it is impossible for the US to default on the debt (because it is denominated in dollars), deficits create private sector wealth (while surpluses reduce it), and we NEED the government to supplement aggregate demand so that we can generate output and employment to our potential.
Firms are confusing the inflationary rise with an actual growth in aggregate demand and are therefore not moderating their output expectations accordingly.
Yet Bernanke seems to possess some Keynesian baggage, using such nomenclature as "aggregate demand, " "core inflation, " "potential output" and "output gap, " as though the economy were made up of interchangeable parts.
Indeed, a recent report from the United Nations Development Programme states that "by 2020, the combined economic output of three leading developing countries alone - Brazil, China and India - will surpass the aggregate production of Canada, France, Germany, Italy, the UK and the United States".
The Commission said that the aggregate deficits of the 17 eurozone governments would fall from 3.5% of economic output or GDP last year, to 2.8% this year.
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