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well, GDP used to be dominated by the production of goods, where increased raw materials costs make a major impact and are generally passed on in increased price of the output. A GDP dominated by services would surely show a much diluted inflationary effect from raw materials.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Tue Jul 31st, 2012 at 07:20:48 AM EST
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