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Essay / Research Paper Abstract
This 4 page paper compares the US and Australia by looking that the GDP level growth and profile, unemployment levels, quality of life, environmental issues and the role f the government and the welfare state. The bibliography cites 5 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEaustUS.rtf
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Unformatted sample text from the term paper:
In this paper the United States and Australia will be compared. The United States and Australia are both former British colonies; as such they have many cultural similarities and
share a common language. However, located in different parts of the globe their economies are also diverse. The main measure of a country is the GDP, this is
the gross domestic product. The gross domestic product is the monetary value of all the goods and services that have been produced in the country (Nellis and Parker, 1996).
The GDP for 2002 was $10.45 trillion, and real growth1 of 2.4% was expected (CIA, 2004), this makes the United States the largest economy in the world. It is also
the most technologically powerful economy. The size of the economy is important, but so is the profile of the economy. In the United States 80% comes from the services sector,
18% from industry and only 2% from agriculture. To place this in a wider context the GDP per capita, meaning the equivalent production per person was $36,300 in 2003 (CIA,
2004). This also starts to indicate a level that may reflect quality of life. This can be compared with Australia. The comparison here is made using US dollars to
give an easier evaluation. Here there is a smaller economy, with a purchasing parity of US $525.5 billion (CIA, 2004). Whilst much smaller, it also needs to be remembered that
the population is also much smaller, giving a per capita GDP of US $26,900 in parity (CIA, 2004). However, higher growth is expect here, projected as 3.6% (CIA, 2004). There
is a similar pattern in the economy, with 71% of the GDP coming form service, 17% from industry and 3% from agriculture (CIA, 2004). The location of the country and
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