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Essay / Research Paper Abstract
This 5 page paper considers the performance of the US economy using numerous indicators during the forty quarter of 2002, the run up to the war in Iraq. The performance also compared with earlier and later periods. The bibliography cites 6 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEus0402.rtf
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Unformatted sample text from the term paper:
had slowed to only 0.7 for the year (Antosh, 2003). This was still positive growth, but at a much lower rate than seen in the forth quarter of 2001 when
the economy showed a rally and an upward trend on that year. The equivalent growth was 1% higher at 1.7% (Lagomarsino, 2002). This decline was foreseen, as a result
the Federal Reserve had followed a strategy of seeking to increase disposable income by reducing interest rates further, half a percentage point was knocked off of the interest rates in
November 2002 (Antosh, 2003). This strategy appeared to have some positive results, as the aim is to maintain and increase spending when there is a higher level of disposable income
for both consumers and commerce. The US produced goods sales indicated an upward trend, with an increase of 1.3% in the last quarter of 2002 (Antosh, 2003). However,
when looking at this it should also be remembered that roughly 0.8% of this was added by increased government spending which had increased dramatically during 2002 (Antosh, 2003). The
Defence budget increased by 11.2% in 2002 and also contributed to 0.5% to the growth of the GDP (Antosh, 2003). Looking at the overall figures, this rally in the
second quarter meant that the economy was still seen to grow in the year, showing an increase on the year of 2001. 2001 had seen a recession following the disaster
of the terrorist attack on the World Trade Centre that took place when the economy was in a shaky position. This resulted in only 0.3% growth of the GDP in
2001, compared with 3.8% in 200. By the end of 2002 the growth of the GDP was recovering overall, with a rate of 2.4% (Antosh, 2003). In financial terms this
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