US Economy

Introduction

The economy of the United States of America is the world's largest national economy. Its nominal GDP, estimated at over 15 billion dollars in 2012 (15 trillion in the Anglo-Saxon system of measurement) represents approximately a quarter of nominal global GDP. Overall, the European Union would have a higher GDP but is not considered a single nation. The GDP in purchasing power parity U.S. accounts for a fifth of global GDP PPP. In turn, the United States maintains a high level of production and a GDP per capita (PPP) of about $ 48,147, seventh highest of world, what makes these terms to the United States, one of the wealthiest nations in the world. It is also the largest industrial producer in the world, and the world's largest trading nation, having as major trading partners in China, Canada and Mexico (Clarida & Gertler, pp 56-78).

The United States supports the efforts of economic development and social inclusion in the region through various complementary programs that help build strong, capable and transparent institutions, facilitate trade and creating favorable environment for business and investment, expand access to reliable, affordable and clean energy, and investment in human capital so as to prepare the population to contribute to the development of their communities (Jones, 709-746).

Discussion and Analysis

The current economic situation is not good at position. The re-elected President of US Barrack Obama has targeted his mission to increase the economic growth of the country by reducing or maintain the inflation rate of the country. When Obama, selected in 2009, the unemployment rate of the economy was 7.9%, it increased by 10% in the same year. This fluctuation in the unemployment rate of the country defines the up and downs in the rate. Recently 8.9% is the current rate, which enhances the better productivity of the country's industrial and the manufacturing sectors.

The Economy

The economy of United States is highly reliable on its business and industries, which are involved in producing the goods. The strength of the economy is its exports, as United States has the highest number of exports. This supports the economy of the country and also affects the people living in that economy. In 1950s, the country had faced deindustrialization, where the industries were being shut down. The economy of the country has changed slowly and gradually, resulting in affecting people and industries in different ways. Since de-industrialization had struck the North West ...