Re: Uncle Miltie, he dead
On Nov 19, 2006, at 7:43 PM, Mike Ballard wrote:
Do any of the the money measurements: M 1, M 2, and so on tell a
person the amount of use values (good and services) produced in any
given time frame?
No. That’s roughly what GDP is - the total value of goods and
services produced within a nation during a year (or quarter,
typically expressed at an annual rate). I say roughly because it
includes some things, like missiles and jail construction, you might
not think of as a use value, and excludes household-produced items
and depreciation of the natural environment.
Doug