Discuss the current state of the U.S. economy. Find the up-to-date information needed through google, etc. Focus on four key economic metrics: Gross Domestic Product (GDP), unemployment, inflation, and interest rates. In addition, discuss the state of the economy and political landscape for the largest economies in each of the three following international regions: Latin America and the Caribbean (Brazil), Europe (Germany), and Asia (Japan). Finally, compare and contrast the U.S. economy with the economies of the other countries.
*List any references used and website - where they were found*
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Please see response attached for better formatting, which is also presented below. I hope this helps and take care.
1. Discuss the current state of the U.S. economy. Find the up-to-date information needed through Google, etc. Focus on four key economic metrics: Gross Domestic Product (GDP), unemployment, inflation, and interest rates.
For United States see https://www.cia.gov/cia/publications/factbook/geos/us.html in the economy section to about ¾'s down the web page (click on economy on the right hand side of the website). The most recent figures are of 2006 from the World Fact book.
a. Per capita GDP: $43,500 (2006 est.)
b. Unemployment rate: 4.8% (2006 est.)
c. Inflation rate (consumer prices): 2.5% (2006 est.)
d. Interest rates: 8.25% forecasted (Aril, 2007) (see http://www.forecasts.org/prime.htm).
Also see other financial figures for United States at http://www.forecasts.org/prime.htm.
From another source, some of the figures are current:
Current Economic Indicators
April 12, 2007 (Close of Day)
Inflation % 2.41
GDP Growth % 2.43
Unemployment % 4.40
Gold $/oz 677.25
Oil $/bbl 63.85
Prime % 8.25
United States Economy (Excerpt from the World Fact Book):
According to the World Fact Book, the US has the largest and most technologically powerful economy in the world, with a per capita GDP of $43,500. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. The response to the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. The war in March-April 2003 between a US-led coalition and Iraq, and the subsequent occupation of Iraq, required major shifts in national resources to the military. The rise in GDP in 2004-06 was undergirded by substantial gains in labor productivity. Hurricane Katrina caused extensive damage in the Gulf Coast region in August 2005, but had a small impact on overall GDP growth for the year. Soaring oil prices in 2005 and 2006 threatened inflation and unemployment, yet the economy continued to grow through year-end 2006. Imported oil accounts for about two-thirds of US consumption. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade and budget deficits, and stagnation of family income in the lower economic groups. ...
By responding fully to the questions, this solution discusses the current state of the United States economy focusing on four key economic metrics, as well as the economies of three other countries, to help in making comparisons across the four. Research validated.