Unit 2 Db

In: Business and Management

Submitted By eric4168
Words 634
Pages 3
Eric Carr
Unit 2 Individual Project
BUSN300 - 1303A – 03
Professor Rodney Cullifer
8/6/2013

When we think about GDP, it is important to determine the country’s output. When I say the country’s total output I mean everything produced by the people of the country, as well as all the companies within the country. Today I will be discussing to you all the recent history and expected future conditions of the American economy. In the current American economy, we must concentrate on the future. The current trends that are taking place in our economy are essential for determining the future of the U.S. economy. Some of the trends in the U.S. economy consist of business cost rising due to uncertainly. What this means is that as a result of the 2008 financial crisis, businesses have to change their way of doing business just to keep up. Another trend is companies hiring less full-time workers and more part-time, and temporary employee. The reason that companies do this is because they want to keep their overhead low, remain flexible in an unstable environment, and to keep from paying higher health care benefits. The U.S. economy is gradually declining in global economic power. According to current trends the U.S. will take part in another major crisis, but will not have an economic downfall. Current statistics about the U.S. economy indicates that the economy is growing at a fast rate. The moderate growth rate is about 2-3% which is good enough to create more jobs but it will create more inflation. Some of you may be wondering how the GDP is determined. The way GDP is determined is by what a country is good at producing (Amadeo, 2013). The GDP has four major components, which are personal consumption expenditures, business investments, government spending, net exports of goods and services. The formula to calculate GDP is C+I+G(X-M). Nominal GDP is measured every…...

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