Five Economic Indicators Second and Third Quarter 2004
1.Gross Domestic Product (GDP).
GDP is the market value of all final goods and services produced within a country in a given time period. There are two ways to measure GDP, the expenditure approach and the income approach. The expenditure approach measures GDP by adding together consumption expenditure, government purchases, investment, and net exports. The income approach for GDP equals net domestic product at factor cost plus indirect taxes less subsidies plus capital consumption.
Second Quarter: 3.3% Third Quarter: 3.9%
2.Unemployment Rate.
The amount of people who want jobs but cannot find determines the amount of unemployment there is. The unemployment rate is the percentage of people in the labor force who are unemployed. This number is obtained monthly by taking the total amount of people who are unemployed, dividing it by the total labor force and multiplying it by one hundred.
Second Quarter: 5.6% Third Quarter: 5.5%
3.Consumer Confidence.
The consumer confidence survey is based on representative sample of 5,000 U.S households. This report shows how the consumers are feeling about spending his or her money in the economy.
Second Quarter 92.9 % Third Quarter: 90.5%
4. Personal Income and Disposable Income.
Personal income is the money made by a household before the state and federal taxes are taken out. Once the government has deducted the taxes, consumers are left with disposable tax, which can now be used for spending or saving.
Personal Income- Second Quarter: 6.4% Third Quarter: 3.3%
Disposable Income- Second Quarter: 6.0% Third Quarter: 3.1%
Personal Consumption Second Quarter: 4.7% Third Quarter: 6.2%
5. Imports and Exports. ( Current account deficit)
Exports are items that are developed in the U.S and are sold to the rest of the world . Imports are items that the rest of the world make and are bought by the U.S. Net exports is the value of exports of goods minus the value of imports of goods and services. Deficit Sep. 2004=50.9 billion Deficit Oct.= 55.5 billion
(billions) July August September October
Exports 95,892 96,234 97,493 98,016
Imports 146,488 150,095 148,418 153,526
Net Exports -50,596 -53,861 -50,925 -55,510
The Bull Case:
Personal consumption expenditures was a major contributor to the increase in GPD. The growth of GDP was also influenced because of an increase in PCE and the decrease of imports wich compensated by a down turn in private inventory investment.
Due to a decrease in unemployment from the second to the third quarter, an increase in employment will produce more income for people. This means sales will rise and GDP will rise as well.
Increased demand on a global scale due to increase in manufacturing across the world, opposite in U.
The basic definition of unemployment is without work. In macroeconomics, unemployment has a very precise definition and different types of unemployment. Unemployment is defined as the total number of adults (aged 16 years or older) who are willing and able to work and who are actively looking for work but have not found a job. (Miller 140).
Understanding Gross Domestic product is central for understanding the business cycle and the progression of long-run economic growth (Hubbard & O’Brien, 2011, p. 631). The GDP is defined as the value-added of all goods and services produced in a given period of time within the United States (2008). The GDP is widely used as an gauge economic wellness and health of the country. What the GDP represents has a hefty impact on nearly everyone within our economy. As an example, when the economy is healthy, you will usually see wage increases and low unemployment as businesses demand labor to meet the increasing economy. The government has two types of economic policies used to control and maintain a healthy economy, fiscal policy and monetary policy. When economic growth is healthy it will have a positive on both individuals and businesses.
“GDP is the most important concept of national income is Gross Domestic Product. Gross domestic product is the money value of all final goods and services produced within the domestic territory of a country during a year.” (Thapa.R)
In my day to day life I have several habits that would be considered harmful to the environment. Throughout this paper I will discuss some of these habits and ways to fix them. The bad habits I have chosen to discuss are; leaving my phone charger plugged into the wall, purposely taking the long way home from work, always choosing to drink bottled water over tap, and using plastic bags at the market and falling asleep with the television on. I am going to discuss how each of these has a bad impact to the environment and how I can help reduce the damage done by these bad habits.
Gross Domestic Product (GDP) is the final value of all goods and services produced domestically in a year, minus any trade deficit. It can also be interpreted as the sum of the total spending of its component parts. There are several components of GDP, and those include Consumer Spending (C), commercial and residential Investment Spending, Government Spending, and Net Exports (value of all exports minus the value of all imports). The largest component of GDP is Consumer Spending, totaling about 6.255 trillion dollars in 1999, or sixty seven percent (67%) of GDP. Like GDP, Consumer Spending (here after C) is also determined by several component parts. C is the sum of consumer spending on Durable Goods (DG: goods that can be stores and have an average service life of three years), Non-Durable Goods (NDG: storable goods with service life of less than three years.), and Services Spending (S: commodities that cannot be stored and must be consumed at the time of purchase). This paper will deal exclusively with the C component of GDP, and more specifically with the components of C and their changes from 1959 until 1999.
This essay will define what the Gross Domestic Product (GDP) or Gross National Product (GNP) is and how the circular flow chart is dependent on an equal flow in and out of the economy. The thesis for the essay is that society should not place the highest priority upon the pursuit of economic growth; this will be supported with evidence. It will also briefly argue the opponents side on why GDP should be the highest priority.
Gross Domestic Product (GDP) is an Economic Barometer which has been widely used around the world to determine whether the country’s economy is under recession or expanding. It is a great tool for the government in aiding in making critical economic decisions whether to input more money or remain constant. It is also expressed in two different functional terms, Real Gross Domestic Product (GDP) and Nominal Gross Domestic Product (GDP). When inflation occurs or price levels change, the Real Gross Domestic Product (GDP) is adjusted. Nominal Gross Domestic Product (GDP) does not.
Recent data suggest that the U.S. economy is on stable ground, although performance is uneven. According to an advance estimate, GDP increased at a seasonally adjusted annualized rate of 1.5% in Q3. The result, which was well below the 3.9% expansion tallied in Q2, reflected weak fixed investment and exports, although private consumption, the motor of the economy, grew at a healthy pace. The October jobs report grabbed headlines, with payrolls surging, unemployment falling to 5.0% and other measures pointing to solid labor market conditions. Consumer spending should
There is a close relationship between Gross Domestic Product (GDP) and the unemployment rate as it will relate to the decrease or increase of inflation rate. The inflation rate will increase when GDP and unemployment decreases, because it will affect the purchasing power of the people of a particular country.
GDP measures the total value of all goods and services produced within that territory during a specified period. GDP is used to measure a country’s wealth. Basic’s of life, food, etc. shelter and clothing is not likely available to most people in poorer countries. The.
I believe that the economy will eventually pick itself back up and avoid a recession. GDP will once again grow at a quick pace.
There has been a tremendous attention from EU scholars about environmental policy. Since the 1970’s there has been numerous environmental crises and the emergency of an environmental, social movement in several European countries, but even after green politics in Europe quietened and environmental policy gained a ‘normal’ status in the “acquis communautaire”, this attention never subsided.
Unemployment rates is the number of unemployed people divided by the number of people in the labor force. According to IndexMundi (2018), the unemployment rate of whole world in year 2017 is 7.9%, which was increased 0.6% compare with year 2016.
The environment around us gives us the habitat to live, is a condition for our existence and development so that protecting environment which is one of today’s most serious issues means protecting our lives. But almost every day we hear a new problem badly affecting the environment. The list of the new difficulties seems to be endless. We are all aware of these concerns and can admit that we caused them. Now, environmental protection is not the work of a single individual as it is the responsibility of the whole community, of every single person exists on this planet. The measures range from each citizen to the government.