Understand the income approach to GDP, where total expenditures equal the income from goods and services in an economy.

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. We spend a large and growing share of our waking lives ...

Seriously. How are you feeling about your economic situation? Because the unemployment rate is still near generational lows, inflation is down to 3.2%, and gross domestic product, or GDP, grew at a ...

This Economic Letter discusses a topic that at first glance appears to be boring and technical but that in fact turns out to be quite important: the proper interpretation of chain-weighted data. To ...

Figures for the level and rate of growth of gross domestic product (GDP) are quoted ubiquitously, including in this magazine. They are widely agreed to tell us something of importance. But there is a ...