Description:
How is the total value of all the goods and services produced in a country’s economy measured? Gross domestic product (GDP) is one common and fairly comprehensive measure. This month’s newsletter explains GDP components and how it is calculated. It also describes what GDP does—and does not—measure.

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Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

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Remember when airlines started charging for checked bags? What happened to the number of checked bags after this added charge? And what happened to the availability of in-cabin storage space on planes? This month’s newsletter answers these questions and discusses the pivotal role price plays in a market economy.

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:
They say that "money makes the world go round." Just imagine a world without money as our method of payment for everyday transactions. Without money, we would all need to barter for necessary goods and services. For example, suppose an accountant needs to have her car fixed. Under a barter system, she would have to find someone who needed some tax advice in exchange for car repairs. The search to find a barter partner is time consuming and wasteful. Money solves this problem and many others. Read more about the three main functions of money and the damaging effects of too much inflation on these functions.

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:
"Human capital" may not be the first thing that comes to mind when we think about investments, but investing in education and training is an important economic decision. Learn about human capital and the return on such an investment in the February 2013 Page One Economics Newsletter—"Investing in Yourself: An Economic Approach to Education Decisions."

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:

As the Rolling Stones song says, "You can't always get what you want." So we make choices. Every day, governments and individuals choose how much money to spend and what to purchase. The January 2013 Page One Economics Newsletter, "Choices Are Everywhere: Why Can’t We Just Have It All?" discusses opportunity costs and scarcity and how they effect our spending decisions.

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:

The output gap is one (of many) economic indicators used by economists to measure the strength of the economy. What exactly is the output gap, and how accurately does it predict the state of the economy? Read this month's Page One Economics Newsletter, "The Output Gap: A ‘Potentially’ Unreliable Measure of Economic Health," for an explanation of the output gap and answers to these questions.
 

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:
All inflation isn't bad—a moderate amount can signal a healthy economy. But high inflation, such as that during the Great Inflation, can lead to a viscious cycle where expectations of higher inflation lead to further increases in the price level. Read the October 2012 Page One Economics Newsletter to find out what caused the Great Inflation, how tough (and painful) policy brought it to an end, and two key lessons learned.

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:
Drivers may wonder whether the most recent spike in gasoline prices is temporary or will be longer lasting. Will prices eventually decline—maybe even to below $3 per gallon? Or is it time for drivers to alter their driving habits, maybe by buying a hybrid car? Be sure to read the September 2012 issue of Page One Economics Newsletter —“Higher Gasoline Prices: Temporary or Time to Buy a Hybrid?”—for a discussion of factors that might influence that decision.

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:
Competition, sportsmanship, and national pride are the foundations of the Olympics, but how much do the Olympics cost the host city and country? What are some of the economic benefits and costs? Is the investment in the Olympics worth it in the end? Read about previous host experiences with the economic side of the Olympics in this month's Page One Economics Newsletter “The Legacy of the Olympics: Economic Burden or Boon?” (see related graph: "Olympics-Related Temporary Increase in Employment"

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:
The average saving rate for the typical American household before the recession started in 2007 was 2.9 percent; since then it has risen to 5 percent. Uncertainty about the future was the primary driver for the increase. More saving is a good thing, right? Well, some economists argue it might be detrimental to the overall economy. Given the benefits to individuals, how could this be? This month’s Page One explores this “paradox of thrift.”

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:
The famous"Dewey Defeats Truman" headline illustrates the importance of timely and accurate data. Agencies that compute economic indicators for the $14 trillion U.S. economy face a tough challenge: providing up-to-the minute results and ensuring the reliability of the data. This month's Page One newsletter, "Dewey Defeats Truman": Be Aware of Data Revisions, explains why there is often a trade-off between these two factors and discusses the importance of data revision.

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.

Description:
Income inequality has been rising in the United States and other developed countries. The March 2012 Page One Economics Newsletter discusses income inequality, its causes, and some possible policy solutions.

Note:
Prior to the Feb. 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.