The total elasticities of a rise in GDP at fixed population (sum of all GDP and GDP/capita elasticities) are shown in Table 2.
At the beginning of the year, though, the minimum wage was hiked by a whopping 14%—the sum of 7.5% (GDP growth in 2010, the result of a pre-election public-spending binge) and 6.5% (inflation in 2011, caused by the hangover).
Here are the facts: Aggregate demand in the U.S. which is the sum of annual GDP plus new public and private debt fell from $18.8 trillion in 2008 and $17 trillion in 2009 to an estimated $14.2 trillion in 2010.
America is more than the sum of its GDP and trade deficit.
To this end, we modified the economic capacity of each country to be the sum of its GDP and CAB, such that countries with positive (negative) CAB will tolerate the impact from crisis to a larger (lesser) extent.
Some provinces may exaggerate their output: the sum of reported GDPs is a tenth higher than the national total.
The Czech Republic, Poland, Hungary, Romania and Bulgaria suffered gas supply reductions of between 5 and 30 per cent (Womack, 2009), and the Slovakian government claimed that the economy suffered damage to the sum of 0.5percentnt of GDP, or €100 m per day for the duration of the disruption (Laca, 2009).
Indeed, it is all too easy to see the baby boomer generation, the first thoroughly consumer generation in history, succumbing to this idolatrous embrace of mortal splendor, devoting vast sums of the GDP to the end of postponing the end as long as possible.
A country's net present value of current and future non-health GDP lost due to maternal deaths is the sum of non-health GDP loss among women aged under 15 years and those within the reproductive age group of 15 49 years.
But even that sum equals just 14% of GDP.
But that sum, equivalent to 0.0006% of GDP, is small change.
