Word: productivity
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Dates: during 1970-1979
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...other purchases that would have a broad effect on the economy. Even now, studies show that consumer "confidence" is near its lowest level in 30 years. Because spending by individuals on all sorts of goods and services accounts for fully two-thirds of the nation's gross national product-far more than spending by Government and business combined-a sharp retrenchment in purchases of autos, houses and other big-ticket items would surely deepen the shallow recession that many economists believe has already begun...
...index of how financially pressed Americans feel is the popularity of grocery coupons, those little pieces of paper snipped from product labels or newspaper ads that housewives have long used to save nickels and dimes at the check-out counter. By the Agriculture Department's reckoning, coupons are used at least occasionally in 80% of American households, up from 58% in 1971. Nonetheless, only one coupon in ten is ever redeemed at a store, and there is at least one determined bargain hunter who believes that consumers do not realize the full potential of these freebies. She is Susan...
Stores like coupons, which can be offered for any item but are most commonly used to promote cleaning aids, health and beauty products, and processed foods. After a coupon is redeemed by a customer, the manufacturer of the product pays the store not only the coupon's face value, usually 5? or 10?, but also a handling fee that may be as high as 5? and is mostly profit for the store. Most shoppers would probably find the supershopping routine very exhausting. Samtur spends five hours a week clipping coupons, filing cents-off labels and mailing out refund requests...
...articles and testimony, Boskin, a Stanford professor, advocates a concise plan. Among his ideas: 1) reduce the size of federal spending as a proportion of the Gross National Product; 2) balance the budget over the length of the business cycle, accumulating surpluses in good years that can be used for tax cuts in hard times; 3) require the Federal Reserve Board to announce a "moderate and predictable" rate of monetary expansion-about 5% to 6%-and stick to it; 4) eliminate the personal income...
...already has black Africa's largest population (about 80 million) and most bounteous economy (1978 gross national product: $33 billion), as well as the clout that comes with being a rapidly emerging leader of the Third World. To those assets, oil-rich Nigeria may soon add another that is very rare in its part of the world: a democratic government...