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Macroeconomics: the GDP - Essay Example

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The subject of this research article “Macroeconomics: the GDP” is based on the GDP of the US economy in terms of effecting an underlying momentum. It implies that the growth rate is measured in accordance with the economic output and retail sales…
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Macroeconomics: the GDP
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Macroeconomics Macroeconomics The of the article is based on the GDP of the US economy in terms of effecting an underlying momentum. It implies that the growth rate is measured in accordance with the economic output and retail sales. For instance, expansion rate seasonally is currently at 3.7 percent unlike the previous annual rate of 2.3 percent. Overall, the projected improvements to achieve the momentum for the first-quarter gain is 10.1 percent against the previous reading that recorded 6.6 percent.
Therefore, the macroeconomics concept that features in the article is GDP in relation to the national income. GDP, thus, is assessed from the perspectives of economic growth and the impacts upon the global stock prices. Alternatively, for the national income, the existing retail sales and gasoline prices are calculated to study emerging improvement.
Consequently, the author’s explicit or implied point of view is that without GDP, the US economy cannot attain its momentum that subsequently affects national income and investment. Additionally, the business cycle hugely rely on the economic growth in terms notable through consumer spending and other retail sales figures (Sparshott & Hilsenrath, 2015). Monitoring the GDP numbers equally becomes a fundamental step of interpreting the microeconomic concepts.
In terms of relevance to my study of macroeconomic theory in ECO2013, I believe the article achieves a few vital functions. First, it highlights the relationship between US economy’s GDP and its national income. Second, it affirms the need for consistent economic growth to boost consumer trends and investments for all sectors such as retail and manufacturing.
Reference
Sparshott J. & Hilsenrath J. (2015, August 27). ‘GDP number reveal underlying momentum, possible headwinds for U.S. economy.’ Wall Street Journal. Retrieved from
http://www.wsj.com/articles/u-s-gdp-expands-at-3-7-pace-in-second-quarter-1440678866 Read More
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