Date: October 25, 2001 To: Alan Greenspan, Chairman, Federal Reserve From: John Steinwehe, Staff economic expert Re: Current Economic Outlook I. Â Â Â Â Â Â Â Â Overview Mr. Greenspan, allow me to discharge you on the true economic situation being approach by the United States. To do this analysis, we both need to deduct both(prenominal) key economic factors and terms. First is the rough-cut domestic financial aid Product, too know as the GDP. This term is used to disclose the marketplace value of all final goods and services produced at bottom a country in a given period span. The current GDP of the USA is about $10,202.6 billion. Real Gross Domestic Product (RGDP) is the production of goods and services valued at uninterrupted prices. Currently, the US RGDP is in the neighborhood of $9,341.7 billion. The rate at which the RGDP grows is called, creatively, the developing Rate of RGDP. Right now, this rate is 0.1%. Unemployment, whic h is how much of the practicable workforce doesnt have a job, is 4.9% in the US. Inflation can be used to model the economy, and we can whole whole step inflation by using the cost-of-living index, or the Consumer Price Index. The CPI is a measure of the overall cost of the goods and services bought by a exemplary consumer.
When all the notes taken in and spent by an administration is tallied up, the result is either a deficit (the governing body spent more money than it took in), or a extravagance. (The governing body spent less(prenominal) money than they took in) The surplus for 2001 was $121 billion. The actual surplus for 2000 was $237 billio! n. II. Â Â Â Â Â Â Â Â Recent Trends today for some recent activity of the supra mentioned statistics. The nominal GPD of the US has been rising slowly but for certain for the last 6 years. In 1995, the nations GPD was $7,432.8 billion. From there, it rose to $7,859.0... If you want to submit a full-of-the-moon essay, order it on our website:
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