Macro & Micro Economics November 10, 2011 Comparing a Past Decade with Todays Economy 1. Describe the state of the economy at the beginning of the decade using economic indicators such as GDP, unemployment rate or CPI The United States has the most technically advanced, diverse, superior and largest financial system in the world with a per capita GDP of $33,900l as per the statistics of 2000…
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At the same time, they face various types of barriers when they try to compete against other firms in the US marketplaces. 2000 is one of the decades that has created loss for employees and financial system of US. “The decade that just ended has been the worst for the U.S. economy in modern times by a wide range of data, with zero net job growth and the slowest rise in economic output since the 1930s. Many who stayed employed were hurt too, with middle-income families making less in 2008, when adjusted for inflation, than they did in 1999 — the first decade since the 1960s that median incomes have fallen” (Seitz-Wald para. 1). Recent financial data demonstrates that the poverty rate in US has grown the highest in the past 20 years. It is well recognized that the present financial climate in the US is not favorable. This pushes one to think on the subject of the level of economic growth over the last 10 years in the country. One thing to observe is the wide GDP alterations that have occurred over the period. Considering the information from 2000 to 2011, the CPI representing the price of living has increased to 25.74% (January 2000 to September 2011). Individual income, deriving from interest, dividends, labor, and transfers made by government minus social security through the corresponding period rose up to 57.19%. 2) Relate that state to today’s economy based on those indicators. The US’ real GDP rate has increased annually by 2.5 % in the third quarter of 2011 (that is, from the second part to the third part) according to the "advance" estimation released by the agency of Economic study. In the second part, real GDP advanced to 1.3%. “ ”. (GDP United States 1). The increase in real GDP in the third part mainly reflected positive contributions from Individual Consumption Expenditures (ICE), exports, nonresidential fixed assets and federal administration spending that were partially counterbalanced by negative contributions from private inventory investment as well as local and state government expenditure. Imports, which are a subtraction in the computation of GDP, have also been increased. “U.S. Inflation Rate Past Trend Present Value & Future Projection YoY Change in CPI. Percent. ” (U.S. Inflation Rate Forecast para. 2). Recent financial Indicators published in November 08, 2011. Indicator Value of the indicator. Worldwide Stocks development, % 0.37 United State GDP development, % 2.45 United State Inflation, % 3.90 United State Unemployment rate % 9.00 Gold, $/oz 1,795.00 WTI Oil, $/bbl rate 96.89 US 10 Yr Treasuries, rate % 2.09 (US Inflation Rate Forecast) 3) Describe the state of the economy at the end of the decade: The US financial system is the world's biggest national economy. Its nominal GDP was anticipated to be almost $14.7 trillion in 2010, around a quarter of nominal worldwide GDP at buying power parity. The US economy also keeps a very high rate of production every year. In 2010, it was anticipated to have a per capita GDP of $46,844, the 7th maximum in the globe. The United State is the main trading country in the globe. Its three major trading partners at the end of the
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