Economic indicators are collected by the U.S. Department of Commerce.
Large government expenditures for national defense traditionally have strengthened business activity in the U.S.
productivity growth is defined as an increase in the output of each worker per hour of work
The amount of capital stock per worker is called capital to labor ratio
Growth has slowed since the mid 1960's in American productivity.
Economists measure economic growth by per capita
Long term growth is needed for a country's standard of living, without it standard of living decreases.
Business cycles are fluctuations in a market systems economic activity.
The business cylce is divided into four stages.
The contractions phase is a period of slowed business.