Word: growths
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Dates: during 1970-1979
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...same time, the cost of money ticked upward, reflecting both high demand for funds by business and the Federal Reserve Board's determination to try to hold down prices by curbing the growth of the money supply, which has been expanding rapidly since March. The Fed once again raised (to 7¼%) the discount rate, which is the interest it charges on loans to Federal Reserve system banks. Meanwhile, several large banks, led by New York's Citibank, raised their prime lending rate for top corporations by a quarter percentage point, to 9%, the second such increase...
...bureaucrats had predicted. But that is only because state revenues have been high, a condition that could change quickly. The slightest business recession could make a similar state bailout of local governments impossible next year. On the other hand, by relieving taxpayers, Proposition 13 could well stimulate enough business growth to generate added tax revenues...
...rate goes down; since 1975, union wages have tended to go up faster than the inflation rate. Meanwhile, nonunion workers have begun to expect similar-sized raises, and companies pay them-often simply to keep skilled employees from quitting. Since productivity has not come near staying even with the growth of the paychecks-output per hour worked has risen about 2% on average since 1970 -companies have had to cover their costs by raising prices. With inflation mounting at an alarming rate of 11.4% in April, it has become more difficult than ever to break the cycle...
...best-or the worst-is still to come. As summer begins, Americans are taking to the air in unexpectedly high numbers. The airlines' forecast of an 8% to 10% traffic growth this year has been about 5 percentage points too low. Load factors, which ran at 54% last year, are climbing into the mid-60s. The outlook: the best year ever for U.S. lines, with revenues reaching $22 billion and earnings up $100 million, to $700 million. But passenger discontent is rising even faster. The Civil Aeronautics Board is receiving a record number of complaints. Departure delays, which totaled...
...Sydney Salmon and Cell Biologist Anne Hamburger, discovered three years ago that by "conditioning" culture medium with spleen cells taken from mice prone to cancer, they can grow tumor cells from people with common forms of cancer. (The mouse cells apparently produce some yet unidentified factor that supports the growth of certain human cancer cells.) According to Salmon, the cancer cells that thrive and form colonies in the laboratory's plastic petri dishes appear to be the tumor's "clonogenic," or "stem," cells. Though they account for less than 1% of all the cells in a tumor, these...