Economists are forecasting that the US GDP will grow by over 6% in inflation-adjusted terms. Is this a real or nominal growth rate? Is a mid-single-digit growth rate likely sustainable for the U.S. at this stage in its economic development? Why or why not?
Some economist are concerned about inflation. What affect can inflation have on the production function – hence for long-term growth – that is worrying these economists and policy makers?
Labor demographics in the United States were shifting in interesting ways before the pandemic. During the pandemic it has been near … pandemonium. Most of the changes driven directly by the pandemic should be temporary. Even so, what lasting affect can these temporary outcomes have on the robustness of the production function (and, hence, on long-term growth).
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