Word: grosse
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Even so, forecasters were not prepared for the burst of alarming signs that flashed from Washington last week. The most worrisome was a Commerce Department announcement that the gross national product had grown at only a 1.3% annual rate in the first quarter of this year. That was well below the sluggish 2.1 % estimate that the Government issued last month and the smallest GNP gain since the .5% increase in the final quarter of 1982. Noted Walter Heller, chairman of the Council of Economic Advisers under Presidents Kennedy and Johnson: "The economy is pretty weak at the moment. We have...
...deficit in U.S. history. Stockman has seen the deficit grow from $58 billion in 1981 to considerably more than $200 billion this year. Although some economists say that the importance of the deficit figure is overrated, most express a real concern that it now equals approximately 5.5% of the gross national product, up from 2% in 1981. The debt racked up by the budgets Stockman has overseen equals that accumulated under all previous Administrations. Even though the amount going to domestic programs will be sharply reduced in real terms, Government spending has gone up 25% since Reagan took office...
DIED. Simon Kuznets, 84, Ukrainian-born economist, statistician and professor emeritus at Harvard, who won the 1971 Nobel Prize for his development in the 1930s of the first sophisticated system for measuring the gross national product, the now indispensable means for gauging comparative economic activity and income distribution by computing the total value of each nation's goods and services; in Cambridge, Mass...
...women's work, is universally undervalued. Indeed, according to a recent survey by Economist Ruth Leger Sivard, director of World Priorities, a Washington-based think tank, the cash value of the unpaid labor of women represents $4 trillion a year, equivalent to a third of the world's gross economic product. Said Brooklyn, N.Y.-born Selma James, a leader of the strike call: "Women are very determined that our work no longer be invisible...
...Committee on General Education, which is headed by Kirby himself, with Dean of the College Benedict H. Gross ’71 and Summers sitting in ex officio, finished its report in February, hoping to present its findings to the Faculty for a vote, as the other committees continued their work...