Christie
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- Category: Politics: Economics
- Date Submitted: 08/30/2010 03:22 AM
- Pages: 5
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BY: Christie Godwin
Describe how this economy is being affected by globalisation and discuss the strategies being used to promote economic growth and development?
EXECUTIVE SUMMARY
In this report I will be talking about how the economic growth in the United States of America is going throughout the years and how the various things in the economy have helpt as an advantage and a disadvantage to the USA economy, and how they have used certain strategies to help pick up the economic growth in the economy of USA.
The GDP in USA
The economy of the United States of America is the largest national economy in the world. It gross domestic product (GDP) was estimated as $14.4 trillion in 2008. Its gross domestic product growth was at 0.4% in 2008 and its inflation rate was -1.3% in Sep 2008-09. The population in the USA was at 13.2% in 2008. The USA economy maintains a very high level of output per person. The USA economy has maintained a stable overall GDP growth rate a low unemployment rate and high levels of research and capital investment funded by both national and foreign investors. In 2008 consumer spending made twenty two percent of the economic activity in the USA. Since the 1970 the USA economy has absorbed savings from the rest of the world. In third quarter of the financial year 2008, there was a decrease in the gross domestic product of USA by 0.3 percent. Much of this could be attributed to deceleration in contributions from sectors like:
* personal consumption expenditures
* Equipments
* Residential fixed investment and software, which have traditionally contributed well to gross domestic product of USA
However, there were positive contributions from sectors like
* federal government expenditures
* non residential structure
* private inventory investment
* local and state government expenditures
* Exports have been able to dilute impact of falling real gross domestic product to a certain extent
Current gross...
Describe how this economy is being affected by globalisation and discuss the strategies being used to promote economic growth and development?
EXECUTIVE SUMMARY
In this report I will be talking about how the economic growth in the United States of America is going throughout the years and how the various things in the economy have helpt as an advantage and a disadvantage to the USA economy, and how they have used certain strategies to help pick up the economic growth in the economy of USA.
The GDP in USA
The economy of the United States of America is the largest national economy in the world. It gross domestic product (GDP) was estimated as $14.4 trillion in 2008. Its gross domestic product growth was at 0.4% in 2008 and its inflation rate was -1.3% in Sep 2008-09. The population in the USA was at 13.2% in 2008. The USA economy maintains a very high level of output per person. The USA economy has maintained a stable overall GDP growth rate a low unemployment rate and high levels of research and capital investment funded by both national and foreign investors. In 2008 consumer spending made twenty two percent of the economic activity in the USA. Since the 1970 the USA economy has absorbed savings from the rest of the world. In third quarter of the financial year 2008, there was a decrease in the gross domestic product of USA by 0.3 percent. Much of this could be attributed to deceleration in contributions from sectors like:
* personal consumption expenditures
* Equipments
* Residential fixed investment and software, which have traditionally contributed well to gross domestic product of USA
However, there were positive contributions from sectors like
* federal government expenditures
* non residential structure
* private inventory investment
* local and state government expenditures
* Exports have been able to dilute impact of falling real gross domestic product to a certain extent
Current gross...