Economics

Both GDP (Gross Domestic Product) and GNP (Gross National Product) measure a country's economic output. What exactly is the difference, and when does it matter which one you use?

Inflation means the general price level is rising. What are the main economic mechanisms that cause this — is it always a monetary phenomenon, or are there other drivers?

Ricardo's theory of comparative advantage says countries should specialise even if one is better at everything. How does this work, and what are its real-world limitations?

A recession is commonly defined as two consecutive quarters of negative GDP growth. What economic forces typically produce one, and how do governments try to end them?