StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

GDP of the United States - Assignment Example

Comments (0) Cite this document
Summary
The author focuses on the gross domestic product which refers to the output of goods and services that labor and property located in the United States produced. In the United States, the gross domestic product (GDP) growth rate is an essential component of the economy…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.7% of users find it useful
GDP of the United States
Read TextPreview

Extract of sample "GDP of the United States"

Download file to see previous pages The United States economy, with regard to recent trends, therefore, should be going forward and getting better. However, the United States is trying to recover due to the fact that the trend is not going as expected, and the question of why America down remains to be answered (Cobb, 1995) is. As regards to above trends in the current account as a percent of united states GDP, of 1980-2010, it is clear that the GDP rates keep fluctuating as it did in past recessions in the United States.
According to the Bureau of Economic Analysis (BEA), the real gross GDP recorded an annual increase rate of 1.8 percent in the third quarter of 2011 (News Release, 2011). This trend of increase from the second to the third quarter has been a notable release by the Bureau of economic analysis. The second quarter of the year 2011 saw the real GDP increase by 1.3 percent.
The gross domestic product refers to the output of goods and services that labor and property located in the United States produce (News Release, 2011). In the United States, the gross domestic product (GDP) growth rate is an essential component of the economy.
For this case, the future of the economic activity is predicted by the yield curve slope and the spread between the interest terms (News Release, 2011). This is because the shifts of the slope are key determinants and indicators of high and low GDP growth. In determining GDP, there are three different approaches, which must carry out similar results. Therefore, the “total value of production”, the “total value of income” and the total value of expenditure should reflect equilibrium or simply be equal (News Release, 2011).
The first method involves deriving a residual value and is referred to as the production approach (Krugman, 2001). Production approach involves taking an estimate of each industry’s gross output from other industries, and this is used to derive each industry’s residual value. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“GDP of the United States Assignment Example | Topics and Well Written Essays - 2500 words”, n.d.)
GDP of the United States Assignment Example | Topics and Well Written Essays - 2500 words. Retrieved from https://studentshare.org/macro-microeconomics/1587603-chamber-presentation
(GDP of the United States Assignment Example | Topics and Well Written Essays - 2500 Words)
GDP of the United States Assignment Example | Topics and Well Written Essays - 2500 Words. https://studentshare.org/macro-microeconomics/1587603-chamber-presentation.
“GDP of the United States Assignment Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.org/macro-microeconomics/1587603-chamber-presentation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF GDP of the United States

United States industrial relations

... such goals, employers often conflict with employees regarding work conditions and it is the duty of worker representatives or trade unions to ensure the rights of workers are not infringed. They therefore fight for; safe work conditions, wages and benefits and against unfair labor practices. Industrial relations have a long history which is the basis of the current labor environment in the United States. Several labor movements or trade unions have developed over time from craftsmen associations to amalgamated unions and international unions and continue to fight for workers rights to date as work environment changes due to globalization (Budd, 2006). Change in government leadership also affects industrial relations. Various presidents...
7 Pages(1750 words)Research Paper

GDP

... GDP The gross domestic product (GDP) is regarded as one of the primary indicators that can be used to gauge thestatus of a country’s economy. It is known to represent the total value of all goods and services that are produced over a given period of time. It can be regarded as the size of the economy. More often than not, GDP is usually expressed as a comparison of the earlier quarters or year. For example, if he year to year GDP is up to 4 % this is then perceived to mean that the economy grew by 4% over the last year. Measuring GDP is a bit complex, but the most basic form of the calculation can be done in two ways: this is through adding up what everyone earned in a year (income approach) or adding up what everybody spent in a year...
7 Pages(1750 words)Essay

United States Trade Deficit

United s Trade Deficit United s Trade Deficit Introduction In the recent years, United s has been faced with an unprecedented amount of borrowing. It has also managed to support its overwhelming account deficit without experiencing significant challenges in foreign investors holding its assets. However, more need to be done in ensuring that the country attracts the same amount of extra foreign savings. This is because the US deficit has plummeted far enough to chew on the resources generated abroad. In fact, the level of borrowing has overtaken the amount of funding from other countries. The trade deficits has also been linked to the current rapid economic globalization (Higgins & Klitgaard, 2007). As a result, there has been incr...
3 Pages(750 words)Term Paper

GDP

...Macro Economics What is meant by GDP and how is it measured GDP is an acronym for Gross Domestic Product. It was designed to measure the valueof the goods and the services produced during a time period. In spite of its limitations, real GDP is a reasonably precise measure the rate of output and the year-to-year changes in that output. In short, GDP is the measure of economic performance. It is measured in the country's currency both in current and constant prices. There are two basic ways to measure GDP. The first is to measure total spending on goods and services. This is the expenditures approach. The second method is to measure total income, this is the incomes approach. However...
8 Pages(2000 words)Essay

GDP

...It is imperative to know what the GDP is before commenting on whether if it is a true indicator of quality of life or not. The GDP of any country isthe money values worth of all the goods and services produced within the economy in a given fiscal year (Sloman J 2009). This unfortunately is not a true representation of the quality of life that is prevalent within an economy, the GDP per capita which is the money values worth of all goods and services produced within the economy divided by the total population of the country to some extent is a representation of the quality of life but even that does not reveal a holistic and complete picture because it does not show how many people receive that amount of money and whether that increases...
4 Pages(1000 words)Essay

GDP

... GDP a. Interest on AT &T bond would be included in the calculation of GDP when calculating GDP using income approach. Interest earned by an individual income is included in the GDP in the year the interest was earned by an individual. b. Social security payments received by a retired worker is not accounted for in the calculation of GDP since it is just a transfer payment. c. The service of a painter in painting the family home is included in the calculation of GDP if the painter was an outside contractor and pays tax. However, if the painter is a family member, his work, or benefit will not be included in the calculation of GDP (Mankiw 506). d. The income of a dentist is included in the calculation of GDP on the year the income...
1 Pages(250 words)Assignment

GDP

... Macro and Micro Economics Real Gross Domestic Product refers to the value earned by goods and services produced within a period of one year. According to the latest real GDP release highlights, it can be noted that the value of goods and services produced within the United States raised considerably. It raised by 2.4% to be precise, when weighed to the previous release highlights. This is so because there was increase in both personal consumption expenditure and exports. The significant rise in real GDP is also attributed to increase in private inventory investments as well as increase in nonresidential fixed investment. According to the US Bureau of Economic Analysis that is tasked with the duty of breaking down the worth earned...
2 Pages(500 words)Essay

GDP

...GDP GDP Introduction Before the invention of GDP during 1930-40s, Gross National Product used to indicate the growth pattern of any country. However, GDP has further developed this concept, as it is based on the total output and consumption figures of the specific country. Nevertheless, it does not take into consideration the domestic household output, as charges for cleaning a house or cooking food are not established. In addition, GDP does not indicate the general happiness of the country’s citizens, as it cannot be quantified. Discussing GDP The present global economic scenario has placed due significance to the GDP as it is considered to be the tool that measures a particular country’s prosperity level. As per the UN system...
5 Pages(1250 words)Essay

GDP

...GROSS NATIONAL PRODUCT INSTRICTOR Gross Domestic Product (GDP) measures the total value of all final goods and services that are produced within the borders of any given country (Mankiw, 2012). It is the method that is commonly used to measure the output as well as the size of an economy. Being one of the key indicators that are used to gauge the health of the economy of a country, GDP gives a bird’s-eye view of how a country’s economy is doing. For instance, if the GDP speed up then the economy is doing well and people are getting better pay or more jobs (Barro, 2008).  Even though, GDP has been used to measure the health of an economy, it has some limitations. Firstly, it fails to include harmful side effects in its calculations...
2 Pages(500 words)Essay

GDP

...Gross Domestic Product (GDP) Question In measuring the well-being of its citizens, countries often use Gross Domestic Product (GDP). This is because GDP is the basic measure of the society’s economic well-being, and a better measure of the US citizens’ economic well-being would be the GDP per person. A substantially higher real GDP today than it was 60 years ago shows that the US has been capable of producing a greater output of goods and services in the present than in the past, given that the GDP is in real terms (Mankiw, 2007). Some of the increases in the real GDP can be attributed to the increased population growth rate. Subsequently, assuming an increase in the real GDP per person, the rise in the real national GDP would indicate...
1 Pages(250 words)Assignment

Has Government by States Given Way to Inter and Non-State Governance

The application of theories related to the state and its governance can be proved very helpful towards the creation of an effective and well-structured state. However, the phenomenon of a ‘subjective’ interpretation of the above theories is common especially when there are specific targets that need to be achieved by the interested parties (usual participants in a state’s political or social life). For this reason, it is necessary that specific rules and guidelines are followed when studying and interpreting the views of theorists regarding the position, the role and the power of the state.

Within the state, there are many ‘political’ and ‘social’ forces that try to impose their...
10 Pages(2500 words)Report

The Constitutions of the United States of America and the United Kingdom

The principal characteristic of a functioning democracy is the separation of powers. The concept of separation of powers is complex, although it may seem to be simple. This is because it consists of expressive and rigid components. The US Constitution represents the operational capability of the notion of separation of powers. It operates on three functions of the government. First, the executive implements legislation and supervises the administration over the state. Secondly, the legislature enacts the legislation and monitors the work of the executive and lastly, the judiciary interprets the legislations to apply land laws3.

The British Constitution is an unwritten constitution. Therefore, the limitations of the orga...
7 Pages(1750 words)Essay

United States Foreign Policy from 1945-1991

American Presidents presiding over some key events in history, such as the Cuban Missile Crisis, The Cold War, The Vietnam War, etc., were hindered from acting as public representatives due to pressure from the military-industrial complex. John Kennedy, Lyndon Johnson, Ronald Reagan, George Herbert Walker Bush, and George W. Bush – all of them were subject to these opposing interests. But eventually, the corporate-government nexus proved too powerful; and in this sense, American Presidents after the Second World War were largely restricted and powerless to uphold their higher personal values. Most of the strategic moves on part of the United States after the end of the Great War were directly in response to an anticipated th...
11 Pages(2750 words)Essay

The United Kingdom and World War I

It had shown its ability to survive a war and remained a powerful nation of the world (Hardie, Graham, and Kofman).
Almost all the nations in Europe had suffered economically due to the First World War. Most of the European nations were subjected to economic burdens imposed by the war. After the end of the war, the European governments had to make rehabilitation efforts, in respect of the cities destroyed in the war. In addition, they had to provide medical facilities to the soldiers who had been wounded in the war. These governments had to pay pensions to the soldiers, widows, and relatives of the dead soldiers. Moreover, they had to repay the public and foreign debts, and the interest on such debts. These constituted the ad...
6 Pages(1500 words)Assignment

The United States Supreme Court

The Court, consisting of nine lifelong justices, bears complete authority over the Federal courts but has lesser power over those of the states. It has the power of “last word” on decisions made by these Federal courts and makes the rules that these courts have to follow in their procedures (Wagman, 1993). In addition, all Federal courts must abide by the decisions laid down by the Supreme Court, as well as the United States Constitution. With respect to state courts, the interpretations and decisions that the Supreme Court makes apply, but the Court is limited to interpreting and changing Federal laws, not state laws. Thus, the Supreme Court cannot change conditions of state constitutions or interpret laws made by ind...
10 Pages(2500 words)Coursework

Liberal Democracy in the United Kingdom

Lest authority tantamount to a tyranny of the majority, liberal democracies safeguard toleration of differing perspectives and the rights of individuals and minorities; in fact, the enterprise of this democratic form rests on liberty and rights. While individual ends are plural, rights are guaranteed through constitutional (or institutional) provisions and if there is a conflict between rights and ends, the former retains preponderance. Liberal democracies emphasise the rule of law – i.e. equality before the law and due process – and individual liberties such the freedom of speech, association, private property and religious practice. These safeguards ensure that tendencies towards despotism can be checked while mainta...
6 Pages(1500 words)Coursework

Effects of the United States of America Troops in South Korea

Despite the few negative incidences of crime committed by the United States of America’s security troops that were deployed in the country on a peacekeeping mission.
Since the war in Korea began in the early nineteen fifties, the United States has stationed tens of thousands of soldiers, mostly the United States’ army personnel, in South Korea. Through the assistance of the South Korean troops and other neighboring governments, the American troops have been able to guard and offer maximum security to South Korean people. In line with the argument of James (2003), ‘most of the military bases in South Korea are relatively isolated’ thus the need for much attention from the troops so as to ensure maximum...
10 Pages(2500 words)Assignment

Immigration and Its Impact on the United Kingdom

For example, for farming communities, fertile and well-watered land has been a pull factor in migration. Business opportunities and political stability are also examples of pull factors.
Since the turn of the 20th century, Great Britain and Northern Ireland have experienced a great influx of foreigners migrating into the country due to pull or push factors. There have been different waves of migrations to the United Kingdom, which has had different impacts. Because of this, the United Kingdom has had to respond in several ways, which includes coming up with new acts on immigration, nationality, and providing asylum to refugees.1 However, the topic of migration to the United Kingdom has attracted different political views and...
23 Pages(5750 words)Assignment

Toyota Motor Manufacturing in the United States

The car manufacturing industry is one of the leading industries in the world due to its overall size and its impact on the economy of any nation. However, in the current economic situation, the overall state of the automobile industry may not be encouraging at all as the economic slow down is causing a sharp decline in the aggregate demand for the cars. The demand for usual small as well as luxury cars is decreasing and so is the profitability of the automobile manufacturing firms thus making it significantly more challenging for the firms to sustain such a hostile economic environment. (Henning, 2008). Not only the automobile firms from Asia and Europe are affected by the crisis but firms like Ford and GM are probably the worst-h...
10 Pages(2500 words)Case Study

Multiculturalism: Socio-economic Impacts on Modern States

This paper tends to argue that multicultural policies have promoted social segregation and economic insecurity in modern states. As the most relevant example, it will also evaluate how multicultural policies have evolved to be the most recent threat to the nationality and cohesion of Australia and the United Kingdom.

To begin with, many of the policies enacted on citizenship and immigration have brought about incessant controversy in Australia. In addition, the exceeding emphasis put on the multicultural policy has given rather unfavorable outcomes to both Australia and the UK. Policies that are intended to ensure equal representation and opportunities often create frustration and disappointment among certain interest g...
6 Pages(1500 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic GDP of the United States for FREE!

Contact Us