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Essay / Research Paper Abstract
This 6 page paper is written in 3 parts. The first part examines the performance of the US economy between the years of 2000 and 2003, looking at annual figures for the GDP, real GDP growth, inflation, unemployment, interest rates and M1 growth. The second part of the paper discusses the patterns seen in the economy during this period and the impact of monetary policy. The last part of the paper looks at aggregate supply and demand during the same period. The bibliography cites 7 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEUS2003.rtf
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Unformatted sample text from the term paper:
period of change. The first measure used by many commentators to assess the condition of an economy is the real GDP, if we look at the GDP there is a
consentient growth during this period, the GDP for 2000 was $9,817.0 billion, for 2001 it was $10,128.0 billion, for 2002 it was $10,469.6 billion and for 2003 it was $10,960.8
billion (Bureau of Economic Analysis, 2007). However this does not give us a real indication of the condition, as these are dollar amounts and include inflation, to assess the real
growth we need to adjust these in terms of the real growth, this mean looking at the growth that is not due to inflation. The adjusted figure, using 2000 dollars
comes out at a very small growth for 2002 going to $9,890.7 billion and then slightly bigger increased with 2003 seeing a real GDP (in year 2000 dollars) of
$10,048.8 billion and in 2003 of $10,301.0 billion (Bureau of Economic Analysis, 2007). This can be considered terms of real growth, which is a clearer picture, in 200 the growth
was 3.7%, in 2001 the growth rate dropped to 0.5% for the year, but it is worth noting that in this year there were quarters where there was negative real
growth, indicating a recession. In 2002 the growth rate increased to 2.2% and then in 2003 it increases to 3.1%. Inflation may be seen as reflecting the growth, as
the economy has contracted prices have increased at a lower rate but with a lag. There are several measures of inflation; we will use the consumer process index. This sew
an increase of 3.4% in 2000, 2.8% in 2001, 1.6% in 2002 and 2.3% in 2003 (UNECE, 2007). However if we look at the underlying inflation rates these are lower,
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