Word: gross
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Dates: during 1980-1989
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Carli was worried above all by the rise in government spending, which is now about 50% of gross national product. He argued that reducing expenditures for local government, public health and social security is an urgent political necessity. He also believes that an incomes policy to hold down wages is vital but that the government appears to have given the powerful unions a veto in major economic decisions. Said he: "I think that creates a major problem for the functioning of a parliamentary democracy...
...also made the U.S. a land of investment opportunity. Unlike other developed nations, America is currently basking in a sunny combination of strong growth and moderate infla- tion. After expanding at an annual rate of 9.7% in the first quarter and an estimated 5.7% in the second, the U.S. gross national product is expected to increase some 5.5% during all of 1984, or more than twice as much as the average for other industrial countries. U.S. inflation, meanwhile, has fallen to less than 5%. Last week the Government reported that wholesale prices did not increase in June, the third month...
...federal bench in 1966. He has been a hero to environmentalists since the mid-'70s, when he presided over a case involving charges that the Reserve Mining Co. had been polluting Lake Superior. Lord was eventually removed from that case after a higher court accused him of "gross bias" against the company. In another case that had ecologists cheering, the judge refused to permit a trapping season for Minnesota's Eastern timber wolf; the decision caused considerable upset among farmers, who maintained that the wild predators were killing their livestock...
...Gross...
Another reason the trade gap is bulging is that the U.S. has pulled out of the 1981-82 recession much faster than the rest of the world. The U.S. gross national product is expected to rise 6% this year, after adjustment for inflation, but Western Europe's will grow only 2.5%. As a result, the U.S. is sucking in imports at a prodigious pace, while Europe is too weak to buy a matching amount of American exports. The U.S. trade balance with Western Europe has flip-flopped from an $18.6 billion surplus in 1980 to a deficit that...