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Essay / Research Paper Abstract
This 5 page paper looks at the condition of the US economy in the latter part of 2008. Economic indicators such as GDP, CPI, Unemployment, exchange rates and interest rates are all discussed. The bibliography cites 10 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEus2008.rtf
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Unformatted sample text from the term paper:
of the credit crunch has aggravated an already difficult situation due to the sub prime loan situation as well as a very weak dollar. The country appears to have hit
a difficult economic position where growth is slowing down. Over the last decade there has been a growth in the GDP, the growth over the last ten years is
shown in the table below in $ trillions Figure 1 US GDP 1990 - 2007 (forecasts.org) 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 89.53 95.19 99.53 10.22
10.59 11.21 11.97 12.73 13.48 13.78 The GDP for 2007 for the US was $13.78 trillion (CIA, 2008). The growth rate, which is then past had been fairly stable
saw a decline in the last quarter of 2007, 2008 has seen some improvement over that decline; in the first quarter there was a very low 0.9% increase in the
GDP, the second quarter demonstrated the resilience of the economy with a 3.3% increase against the expected increase of 1.8%, in real terms this was an increase of 2.2% (Grynbaum,
2008, BEA, 2008). However, according to early indicators1 there looks to be a decline in the third quarter, which equated to an annual decline rate of 0.3% (BEA, 2008). There
was a contraction expected as a result of lower personal consumption expenditure, as well as lower expenditure in equipment and software, but there was increased government spending that helped to
reduce the level of the contraction (BEA, 2008). There was a notable deceleration of exports and a slight decrease in imports. With these condition is may be expected that
the consumer prices index is slowing down, in line with the usual supply and demand (Nellis and Parker, 2000). Where there is supply that exceeds demand there will be a
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