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ECONOMIC REPORT OF THE PRESIDENT

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ECONOMIC REPORT OF THE

ECONOMIC REPORT OF THE PRESIDENT Together With THE ANNUAL REPORT of the COUNCIL OF ECONOMIC ADVISERS Transmitted to the Congress February 2016

  • Page 2: economic report of the president tr
  • Page 6: economic report of the president
  • Page 9 and 10: lot of Americans feel anxious—is
  • Page 11 and 12: without kids. All these things stil
  • Page 14: letter of transmittal Council of Ec
  • Page 17 and 18: Consumer Spending. ................
  • Page 19 and 20: THE ROLE OF THE FEDERAL GOVERNMENT.
  • Page 21 and 22: 2-15. Consumer Sentiment, 2006-2015
  • Page 23 and 24: 4.15. Effects of WIC Participation
  • Page 25 and 26: Box 5-1: Trade.....................
  • Page 27 and 28: efficiency as well as equity, unlea
  • Page 29 and 30: income. Until the 1980s, the United
  • Page 31 and 32: Figure 1-2a Share of Total, Labor,
  • Page 33 and 34: eturn—likely reflecting increased
  • Page 35 and 36: Figure 1-4 Distribution of Househol
  • Page 37 and 38: Figure 1-5 Intergenerational Earnin
  • Page 39 and 40: gaps in education and experience; d
  • Page 41 and 42: differences in productivity, there
  • Page 43 and 44: To some extent, some of these force
  • Page 45 and 46: Figure 1-8 U.S. Union Membership &
  • Page 47 and 48: Table 1-2 Change in Market Concentr
  • Page 49 and 50: Housing and Land-Use Restrictions T
  • Page 51 and 52: een shown to increase incomes in la
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    wage growth manifests itself as a g

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    20th century saw higher wages, more

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    Percent 11 Figure 2-1 Unemployment

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    Figure 2-2 Oil and Commodity Prices

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    leum and products averaged 1.8 bill

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    other hand, oil-using industries be

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    there was some risk of a government

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    Box 2-2: Challenges in the State an

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    Figure 2-v State and Local Pensions

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    Figure 2-7 12-Month Change in Nonfa

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    Figure 2-9 Unemployment Rate by Dur

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    Figure 2-11 Alternative Measures of

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    Box 2-3: Expectations for Future Jo

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    Consumer Spending Real consumer spe

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    Box 2-4: A Better Measure of Output

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    above GDP growth. In fact, at the a

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    Figure 2-17 Household Debt Relative

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    might be a sign of a growing measur

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    any shift from consumer-paid media

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    Index* 220 Figure 2-20 Housing Affo

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    studies note that land-use regulati

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    Figure 2-21 Single-Family and Multi

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    Box 2-7: Slowdown in Investment Gro

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    On the other hand, there are longer

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    Percentage Points 2.0 Figure 2-27 C

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    is, output per hour) has been below

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    grounds for optimism about the futu

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    Percent 50 40 30 20 Figure 2-34 Ene

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    crisis.9 But these changes have bee

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    The Outlook Forecast over the Next

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    Nominal GDP Real GDP (Chain- Type)

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    Box 2-8: Policy Proposals to Raise

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    States. Second, by moving to a more

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    Box 2-9: Stable Inflation Rate of U

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    individual model because of uncerta

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    C H A P T E R 3 THE GLOBAL MACROECO

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    Figure 3-1 IMF World Real GDP Growt

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    Percent 3 0 Figure 3-4 Percent Gap

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    Box 3-1: Changing Demographic Trend

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    egions are forecasted to have 73 de

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    Figure 3-5 Current Account Balance

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    Index (2008:Q1=100) 115 Figure 3-6

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    some euro-area countries are constr

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    takes place in financial markets. A

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    numbers or Chinese real GDP growth.

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    countries from downside risks in tu

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    Figure 3-9 Measures of Industrial A

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    Figure 3-vii World Industrial Produ

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    Figure 3-11 Brazil's Current Accoun

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    Automotive Vehicles, Parts, Engines

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    Percent 16 Figure 3-16 Exports as a

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    instance, Vietnam’s and Malaysia

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    C H A P T E R 4 INEQUALITY IN EARLY

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    and preschool; direct investments i

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    Figure 4-1 Cognitive and Non-Cognit

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    Disparities in Early Health Prenata

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    Figure 4-4 Household Food Insecurit

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    Figure 4-6 Likelihood of Scoring Ve

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    Figure 4-8 Likelihood of Scoring Ve

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    Figure 4-10 High-Income Parents Spe

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    Black (1999) shows that school qual

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    Differences in early life investmen

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    Box 4-2: Types of Public Investment

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    Figure 4-12 Annual Cost of Juvenile

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    Figure 4-13 Low Birth Weight by Mat

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    Federally funded programs, administ

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    improving parental behavior and chi

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    Figure 4-14 Increase in Income and

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    Figure 4-15 Effects of WIC Particip

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    Figure 4-16 Impact of Food Stamp Ex

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    Box 4-4: Technological Innovation t

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    their children through wages. Studi

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    from high school, earn a college de

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    program. The Head Start Impact Stud

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    A meta-analysis by Duncan and Magnu

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    Figure 4-19 Net Benefit Per Child o

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    Box 4-5: Nutrition and Income Progr

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    for single mothers across these gro

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    Figure 4-21 Average Annual Earnings

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    C H A P T E R 5 TECHNOLOGY AND INNO

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    if an inventor uncovers a new metho

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    Box 5-1: Trade Domestic and interna

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    In addition to commercializing new

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    Figure 5-3 Firm Entry and Exit Rate

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    while a little over one-third is du

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    Percent 20 Figure 5-4 U.S. Job Crea

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    Van Reenen 2013), and that underinv

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    cation of these technologies may yi

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    Sector Table 5-1 Contribution to Av

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    Figure 5-9 Gross Domestic Expenditu

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    Box 5-4: Patent Legislation While t

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    technologies—from clean energy te

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    Figure 5-11 Estimated Worldwide Ann

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    Figure 5-13 Robot Density: Automoti

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    Over time, economists expect wages

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    Figure 5-15 Probability of Automati

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    Figure 5-16 Share of Information an

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    increased competition in the taxi m

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    and that providers use to rate cons

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    Kuhn and Mansour (2014) find that u

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    infrastructure priorities would mak

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    Economic Principles for Infrastruct

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    importance of a strong Federal role

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    Percent 10 Figure 6-2 Public Gross

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    infrastructure in 2015 for G-7 nati

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    Year Delay per Commuter (Hours) Tab

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    facturers toward cleaner low-emissi

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    sustained losses in economic output

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    highways and streets increases priv

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    elasticities since short-run analys

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    Table 6-4 Direct Contribution of th

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    Box 6-3: The Interstate Highway Sys

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    agencies responsible for funding pu

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    output in the near term from high-e

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    1.4 Figure 6-7 Ratio of Public Spen

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    firms that are not ultimately respo

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    allocation of risks (Buckberg, Kear

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    the livability of communities, maki

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    Transportation bonds accounted for

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    Box 6-4: 21 st Century Clean Transp

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    it is flying across the country, sh

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    on the needs of the President, the

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    The balance struck in the final Emp

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    Box 7-1: Former CEA Chair Laura D

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    But this was only part of the story

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    The perspective of CEA has varied d

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    and the drag of the wartime tax str

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    Box 7-2: Former CEA Chair Christina

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    jobs package. And in early December

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    Box 7-3: Former CEA Chairman N. Gre

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    Box 7-4: Former CEA Chairman Joseph

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    There were many lessons that I draw

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    Nourse and Keyserling The three yea

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    shut-down towards the end of the Tr

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    authority of the Council” (1977).

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    Box 7-5: Former CEA Chairman Alan G

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    comment on or in any way attempt to

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    progress, “confidence in the poli

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    Box 7-6: Former CEA Chairman Martin

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    that it would be very risky not to

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    REFERENCES Chapter 1 American Civil

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    Furman, Jason and Peter Orszag. 201

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    Troy, Leo and Neil Sheflin. 1985. U

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    Glaeser, Edward L., Joseph Gyourko,

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    Romer and David Romer, eds., Reduci

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    Kohsaka, Akira. 2013. Aging and Eco

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    Infant Mortality in the Rural South

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    Black, Sandra E., Paul J. Devereux,

  • Page 352 and 353:

    Chetty, Raj, Nathaniel Hendren, Fri

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    Deming, David. 2009. “Early Child

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    Fryer, Ronald G., Jr. and Steven D.

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    Hill, Carolyn, William Gormley, and

  • Page 360 and 361:

    Lefebvre, Pierre and Philip Merriga

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    Education. Accessed 3 February 2016

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    Reynolds, Arthur J., Majida Mehana,

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    Temple, Judy A. and Arthur J. Reyno

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    Atkin, David, Azam Chaudhry, Shamyl

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    Department of Economics, UCSC. Retr

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    Kiebzak, Stephen, Rafert, Greg and

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    January. https://www.pwcmoneytree.c

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    Baladi, Gilbert, Tunwin Svasdisant,

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    International Monetary Fund. 2014.

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    ______. 2015b. “Public-Private Pa

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    ______. 1994. American Economic Pol

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    Rosen, Harvey S., and Kristin J. Fo

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    A P P E N D I X A REPORT TO THE PRE

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    Council Members and Their Dates of

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    Report to the President on the Acti

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    standards; energy policy; intellect

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    policies through briefings with the

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    Office of the Chairman and Members

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    A P P E N D I X B STATISTICAL TABLE

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    GOVERNMENT FINANCE, INTEREST RATES,

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    Year or quarter Table B-1. Percent

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    Table B-2. Gross domestic product,

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    Table B-3. Quantity and price index

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    Table B-5. Real exports and imports

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    Year Total Table B-7. Real farm inc

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    Table B-9. Median money income (in

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    Labor Market Indicators Table B-11.

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    Year or month Table B-12. Civilian

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    Table B-14. Employees on nonagricul

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    Year or month Table B-15. Hours and

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    Government Finance, Interest Rates,

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    Table B-19. Federal receipts and ou

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    Table B-21. Federal and State and l

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    Table B-23. U.S. Treasury securitie

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    Year and month Bills (at auction) 1

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    Year and month Table B-26. Money st

ECONOMIC REPORT OF THE PRESIDENT
Economic Report of the President 1994 - The American Presidency ...
ECONOMIC REPORT OF THE PRESIDENT