The government of the Triumvirate (primarily the Department of the Treasury, Department of Commerce, and Department of Naturalization) keeps up-to-date information on the economic data of each trimester so that it can be analyzed to view historical trends and so that economists and the government can look at ideal economic scenarios and economic growth.
Gross Domestic ProductEdit
The Gross Domestic Product (GDP) is the market value of all final goods/services produced within the Triumvirate in a given trimester. It is a combination of all government spending (on product), consumer spending (on product), investment (in product), and net exports. It only includes that which is produced so things like gifts, transfer payments, or investment in shares or bonds do not count towards GDP.
GDP/Income per Capita: This is effectively the average income for people in the Triumvirate (how much they can expect to take in per trimester). It is calculated by dividing GDP by the average amount of citizens.
Government Spending as Percentage of GDPEdit
This reflects what percentage of the GDP is composed of government purchases. Historically speaking, government spending has been two-thirds of GDP, largely derived from Mainenomic policy to spur large government spending in the earlier years of the Triumvirate so as to propagate a strong private sector as the Union grows.
Membership information, provided by the Department of Naturalization, provides the average number of citizens for the trimester. This is determined by taking the weekly number of active citizens for each week within the trimester and determining the average.
The money supply is the total amount of all tri in circulation. The government has the largest control over money supply (as they can print more money) though banks can also affect the money supply by tying money up via certain kinds of accounts.
Velocity of MoneyEdit
The velocity of money is a complicated concept as it has to do with how often a tri is actually used to purchase something per trimester. It can be thought of by considering how many times an individual tri will be used to buy things per trimester. For example, if, within one trimester, Joe buys a book from Bill for ∇10 and then Bill buys a picture from Tom for ∇10, those tri have each been used twice. If you look at the average of all spending of tri (which can be found by taking GDP and dividing it by money supply) you then find the velocity of money for the trimester. This is an important indicator because it shows how far a single tri goes, how willing people are to spend, and how many transactions are taking place. A value above 1 is generally thought to be desired (in the United States, money supply is currently around 6, indicating that, on average, each dollar is spent 6 times per period).
Historical GDP and Economic Indicator DataEdit
|Trimester||Total GDP||% Increase in GDP||Avg. Membership||GDP per Capita||Gov. Spending as % of GDP||Avg. Money Supply||% Increase in Money Supply||Velocity of Money||Notes|
|2013-I||∇287||-70.35%||20.71||∇13.86||59%||∇5,000||0%||0.06||This massive recession occurred when the Genesis bubble burst.|