Word: output
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...year, although there is widespread anxiety about the current inflation, and about the ability of the Carter Administration to control it, the nation is undeniably prospering. This year's unemployment rate is the lowest since 1974, and 95.2 million people are at work, more than ever before. The output of the nation's industries last month was a healthy 6.8% higher than a year ago. And the crops are in, a record, silo-bursting harvest -an estimated 6.8 billion bu. of corn, 8% more than the 1977 mark, and 1.8 billion bu. of both wheat and soybeans...
...most of Iran's striking oilworkers, who were given an ultimatum: Return to work or lose your jobs. Although slowdowns in some refineries and rigs continued, oil production at week's end had rebounded to 3.2 million bbl. per day, more than half the prestrike output. Officials of the National Iranian Oil Co. hoped to have production back to normal within two weeks...
...does avoid recession, it will be a close call. Real gross national product?output of goods and services, discounted for inflation?is rising about 4% this year. The Administration's 1979 target is 3%, a rate that would keep inflation from getting worse but might not be enough to prevent unemployment from rising above its October level of 5.8% (down slightly from 6% in September). Privately, however, Administration officials indicate that they would accept a growth rate of 2%, which would certainly mean more unemployment, even though the U.S. would probably not technically be in a recession...
...perhaps more heavily influenced by the Government than any other, big and efficient farmers like Pat Benedict are giving the nation a lesson in Adam Smith economics. By carefully calculating their potential profit in a free market, planning their operations around those computations and reinvesting the profits in more output, they are acting the way Smith said capitalists should. The results have been about what Smith predicted: growing production, rising innovation, expanding exports?and reasonable costs to customers...
...years. He no longer needed to live in his novels. Instead, he wrote nonfiction and spoke out occasionally on current affairs. Two Cheers for Democracy (1951), a collection of political essays, was a classic expression of the detached, liberal temper. His reputation as a novelist grew as his output disappeared...