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Essay / Research Paper Abstract
This 3 page paper looks at the projections which have been made for the US in terms of short and long term GDP performance starting in 2003, and two year performance on inflation, interest rates, unemployment, population and labour force growth as housing provision. The paper shows how the different forecasts interact. The bibliography cites 4 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEUSproj.rtf
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Unformatted sample text from the term paper:
services at local levels. The current GDP which is $10.4 trillion (CIA, 2003), is expected to increase by an average of 3.1% when measured in chained 1996 dollars, up until
2025, this may be amended and changed, but is the long term forecast (EIA, 2003). Here the projection is used as a basis for the study of the energy needs
which will be required in the future, assuming a relationship between the need for energy and the level of production This is also projected at occurring at different rates
in different industries. The manufacturing sector is projected at 3% overall, but the sectors which make use foa lot of energy are only expected to grow by 1.4% whilst
non intensive energy use areas wil increase by 3.4% over the same period (EIA, 2003). The workforce is also considered. This is also projected to increase, but the rate of
increase is lower, this time it is foreseen as 0.9% between 2003 and 2005 (EIA, 2003). This may be a more accurate projection as the basis of the forecast
is more solid, with population figures utilized. However, in looking at these two projections there are some link, as the increase in labour force is below the level of GDP
increase, this indicates that there will also be a rate of increase in terms of productivity per person. This will be by the 2.1% (EIA, 2003). This has been
amended downwards from the projection of 2002 where it was projected at 2.2% (EIA, 2003). It is interesting to note that although the labour force is only increasing at 0.9%
during this tome the population as a whole is projected at increasing by 1.1%, indicating longer term increases (ERA DOA, 2003). The implication of the overall effect on the economy
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