Econ

The United States Department of Commerce has issued a statement proclaiming that personal income grew faster in September than in any other month since August 1999. This growth is largely due to the increase in federal farm subsidies which boosted personal income by $61 billion. Private wage and salary disbursements also increased by over $25 billion in September, adding to the total personal income bump up. The Department of Commerce said that the net personal income increased by 1.1% …

…of this growth is a direct effect of extensive investment spending and government spending. Fortunately, even though the current employment rate has exceeded the theoretical full employment rate, there is minimal inflation. This economic prosperity follows Keynesian equilibrium models perfectly. Works Cited Barrett, Jennifer. “Economic Growth Continues.” New York Times 29 Oct. 2000. Callen, Jane. “Statement by Robert J. Shapiro.” US Department of Commerce. (Oct. 27 2000): Online. Internet. 29 Oct. 2000.Available http://osecnt13.osec.doc.gov/public.nsf/docs.