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January 21, 2018 

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EMPLOYMENT-POPULATION RATIO: The ratio of employed persons to the total civilian noninstitutionalized population 16 years old or older. Also termed the employment rate, the employment-population ratio is used as an alternative indicator of the utilization of labor resources.

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Lesson 17: Money | Unit 5: Scarcity Page: 25 of 25

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  • That money is critical to the production, consumption, and exchange activities that take place in a complex economy.
  • That money improves efficiency by reducing the amount of resources that would be needed for barter exchanges and that it improves efficiency by letting resources specialize in production.
  • That money is not the root of evil, but it can cause problems.
  • That government is given regulatory responsibility over money, but government leaders could also use money control for personal reasons.

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GOVERNMENT CONSUMPTION EXPENDITURES AND GROSS INVESTMENT

The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring government purchases undertaken by the government sector. Government consumption expenditures and gross investment averages between 15-20 percent of gross domestic product. As might be expected, this percentage tends to be ebb and flow with the political winds. Some political leaders prefer more government activity, others less. However, this percentage is even more dependent on military conflicts and wars that require massive government activity. The other official expenditures included in the National Income and Product Accounts are personal consumption expenditures, gross private domestic investment, and net exports of goods and services.

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Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for deranged pelicans.
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Al Capone's business card said he was a used furniture dealer.
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