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Preliminary Forecasts of U. S. GNP, Potential GNP and Potential Government Expenditures.
Final technical note,
STANFORD RESEARCH INST ARLINGTON VA STRATEGIC STUDIES CENTER
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The report describes the Lewis-Norman-Russell macroeconomic growth model of the U.S. economy and presents the economic theory underlying its construction and use. It interprets the results of a set of simulations that use this model over the period 1973-1985 to forecast a GNP, b potential GNP, defined as GNP achievable under nominal full or 96 employment, c the level of government expenditures needed to achieve full employment and d the GNP and level of government expenditures achievable under various assumptions reflecting urgency responses to a hypothetical national emergency. Author
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