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rtphones basically at no additional charge, GDP declined because sales of stand-alone GPS systems fell.*4 Finally, a third example, also provided by Varian, shows that, because GDP does not fully count the export of intangibles such as software and design, GDP is understated. He shows how an iPhone manuf
Page: HOUSE_OVERSIGHT_014548 →stment for smartphones. Of course, fewer photos would have been taken had the smartphone not been developed, but the point still stands. Similarly, Varian shows that with the onset of the commercial application of GPS technology, productivity growth in trucking was twice the aggregate US productivity gr
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Donald Trump
PersonPresident of the United States (2017–2021, 2025–present)

George W. Bush
PersonPresident of the United States from 2001 to 2009
Marc Rich
PersonAmerican commodities trader (1934–2013)

Henry Kissinger
PersonAmerican politician and diplomat (1923–2023)

John F. Kennedy
PersonPresident of the United States from 1961 to 1963 (1917–1963)

United States
LocationCountry located primarily in North America
Doug Band
PersonAmerican presidential advisor
the Hong Kong Securities and Futures Commission
Organizationthe Dubai Financial Services Authority
Organization
Seoul
LocationCapital and largest city of South Korea

United Kingdom
LocationCountry in north-west Europe

Australia
LocationCountry in Oceania

Frankfurt
LocationCity in Hesse, Germany

Wall Street
OrganizationStreet in Manhattan, New York, USA

Philadelphia
Location1993 film by Jonathan Demme

Anne Hathaway
PersonAmerican actress (born 1982)

Rupert Murdoch
PersonAustralian-American business magnate (born 1931)

Warren Buffett
PersonAmerican investor, entrepreneur and businessman

Milan
LocationItalian commune and capital city of Lombardy

Eastern Europe
LocationEastern part of Europe