Country Economic Analysis Report
Throughout the years, the United States of America has endured a very strong economy. Although there have been many obstacles of hindrance such as trade deficits, wars, hostile governments and embargo’s, the economic status of the United States still continues to prevail. Just to name a few, the economy of this country survives on simple commodities such as pork, oranges, precious metals and the productive efforts of its citizens. In this paper, I will not only introduce and discuss the logistics of both the United States and the United Kingdom; I will discuss its key economic obstacles and its economic well being.
Brief Introduction of United States of America v. United Kingdom
The United States of America is in North America; between Mexico and Canada. It is made up of fifty individual states and has a total population of 308,745,538 citizens. (Office National Statistics) There are three major branches of government. They consist of the Legislative branch, which not only make the laws but are controlled by the House of Representatives and the Senate an Executive branch, which is empowered by the President, executes law, and a judicial branch, in which laws are interpreted through judges. The United States known currency is the dollar ($). It represents past leaders who helped pioneer society as we know.
The United Kingdom is in northwestern Europe and includes the countries of England, Great Britain, Scotland, Wales and Northern Ireland. It has a total population of 60,800,000 citizens. Similar to the United States, the United Kingdom has a bicameral legislature. Also in similarity to the President of the United States, there is a Prime Minister who executes the law. However, in contrast, ...
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...March 8th,2011
from https://www.cia.gov/library/publications/the-world-factbook/geos/uk.html
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The U.S. Government is made up of three branches, a branch is similar to a department, and each of the three branches is responsible for different things. These three branches are the legislative branch, the executive branch, and the judicial branch. The three branches were established so that there would be a separation of powers. The separation of power helps to ensure that no one group has complete control over the entire decision making within the government. The U.S. Constitution is the original official documentation of the three branches and from that point forward the branches have been a part of the governing system of the United States.
After the War of 1812, cheaper British manufactured goods poured into American markets. In order to protect American “infant industries” from British competition, Congress passed a protective tariff in 1816. Proponents of the tariff reasoned that, without some protection, American would always be in the position of supplying raw materials (such as cotton) in ret...
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In order for international trade to work well, governments must allow the world market to determine how goods are sold, manufactured and traded for all to economically prosper. While all nations may have the capability to produce any goods or services needed by their population, it is not possible for all nations to have a comparative advantage for producing a good due to natural resources of the country or other available resources needed to produce a good or service. The example of trading among states comprising the United States is an example of how free trade works best without the interve...