The Gross National Product, like an electrocardiogram on the nation's economic heartbeat, condenses on one graph the pulsations of the whole U.S. economy. Last week the President's Council of Economic Advisers strapped their electrodes to the economy for another G.N.P. measurement of all goods and services produced in the U.S. The reading: in the third quarter of 1955 the U.S. had the highest Gross National Product in historyan annual rate of $392 billionup $7 billion. This means that goods and services worth $2,376 were produced, on the average, for every man, woman and child in the country.
The increase was not...
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