Saturday, June 15, 2013

"As a % of GDP"

One of the most important lessons in economics for the beginner is to learn the concept as "a percent of GDP."

1 comment:

Bob Wallace said...

I am amused at the number of people who don't know what "per capita" means.

"The U.S. had 25,000 firearm deaths last year! Trashcanastan had 25!"

"Yes, but Trashcanastan only has 50 people, so you have to look at the per capita deaths."

"Huh?"