Knowledge Base

Economics

Money, markets, work, production, and the decisions that influence how limited resources are used.

GDP Leaves Out Most Unpaid Household Work

Gross domestic product measures market production, so unpaid household work such as cooking, cleaning, caring for children, shopping, and gardening is generally not included in U.S. GDP. The Bureau of Economic Analysis tracks estimates of this work separately because it still creates real economic value.

The Rule of 72 Estimates Doubling Time

The Rule of 72 offers a quick estimate of how many years an investment could take to double at a fixed annual rate of return. Divide 72 by the expected percentage rate: at 9 percent, the estimate is about eight years. It is an approximation, not a guaranteed return.

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