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Essay / Research Paper Abstract
This 7 page paper looks at the United States economy from 2000 – 2003. In this period the economy suffered a recession. The paper looks at the different macro economic industries including GDP, inflations, interest rates and money supply. The paper then looks at how the economy was behaving and uses aggregate demand to assess this. The bibliography cites 5 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEus0003.rtf
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Unformatted sample text from the term paper:
a recovery, the recession officially being recognised in October 2001, but according to the NBER staring in March of that year, the recession only generally being over in 2003 (Crone,
2006). The real date varied from state to state, but looking at the Untied States as whole we can see that patterns that show us a decline and then growth.
The basic measure of growth in any country is the GDP, this may be expected to show a numerical increase, but real decreases may result from the impact of
inflation. If we look at the period between 2000 and 2003 we can look at both the nominal and the real GDP, in this case we are using dollars at
2000 value to create the real value. Even here we do see an increase overall, in real values but the rates of growth are limited, the GDP per capita is
different, this does show a decrease, but in 2001, compared to 2000l the 2002 does show some recovery, but this is also limited. Figure 1 GDP for the US
2000 - 2001 (EH.net, 2006) Year Nominal GDP (billions of dollars) Real GDP (billions of 2000 dollars) Nominal GDP per Capita (current dollars) Real GDP per Capita (2000 dollars) 2000
$9817.0 $9817.0 $34788 $34788 2001 $10128.0 $9890.7 $35524 $34692 2002 $10469.6 $10048.8 $36360 $34899 2003 $10960.8 $10301.0 $37693 $35424 If we look at the real rates of change in the
GDP between 200o and 2001 this was a 0.51% increase which was very constrained compared to the year before where there was a 3.66% increase. In 2002 there was a
2.19% increase and in 2003 a 3.13%, so this appears to indicate slow, but accelerating growth (Economist, 2006). Government consumption was increasing as a percentage of the GDP, at
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