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 counsel you on the true economic situation being approach by the United States. To do this analysis, we both need to find both(prenominal) key economic factors and terms. First is the gross(a) domestic back up Product, too know as the GDP. This term is used to recognize the marketplace value of all final goods and services produced within a country in a given duration 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, which is how muc h of the thinkable workforce doesnt have a job, is 4.9% in the US. Inflation canister be used to model the economy, and we can whole standard 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 cash 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 little money than they took in) The surplus for 2001 was $121 billion. The actual surplus for 2000 was $237 billion. II. Â Â Â Â Â Â Â ! Â Recent Trends at once 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 well(p) essay, order it on our website:
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