Gross Domestic Product Assignment Help
Overview This economics GDP case study assignment help paper discusses the topic Expected U.S. GDP growth rate going forward to provide a recent history and future expectation.
GDP Analysis Trends, Forecasts and Statistics: GDP growth rate data indicates that there is an increasing trend in growth rate after recession. United State is improving its economic condition after recession period. In 2012, real GDP increased by 2.2 percent as compared with an increase of 1.8 percent in 2011. However, it can be shown that there is 0.10 percent GDP growth rate in the fourth quarter of 2012 over the previous quarter having 3.1 % growth rate. On the basis of historical data, it can be stated that from 1947 until 2012, the US GDP Growth Rate has reached to the highest level of 17.20 Percent in 1950 and the lowest point of -10.40 Percent in 1958. US GDP growth has averaged about 3.3% over the past 50 years because US has adopted a market economy that helped to get this remarkable growth (Bureau of Economic Analysis, 2013). On the other hand, it can be an issue for authorities that GDP growth is not increasing with averaged pace. As per increasing trend, it can be forecasted that in 2013, U.S. GDP growth will rise to 2.4%. As per assignment help tutors, there is an important role of state and federal governments in getting this economic growth. It can be forecasted that there will be good conditions in market in US that will enable the country to increase its GDP growth rate continuously in future. Along with this, GDP rate will increase continuously with some fluctuations (Keithly, 2012). Government has made some effective decisions such as reduction in tax and import duty, facilitation to export, etc. that are helpful to raise GDP growth rate consistently.
Determination of GDP: Gross Domestic Product (GDP) is an important indicator that shows condition of economy and standard of living of a country. It is determined on the basis of unemployment rate, job growth and federal debt. In determination of gross domestic product, different factors such as consumption, government spending and business spending on capital, total export and import of country are considered.
GDP can be calculated by using following formula: GDP = C (Consumption) + I (Investment) + G (Government production) + X (Exports) – I (Imports). In order to measure GDP, total product, total expenditure and total income approaches are used. In total product approach, the outputs of each class of enterprise are added to determine GDP (Baumol & Blinder, 2011). The expenditure of people in purchasing things is summed-up in total expenditure approach. In income approach, incomes of productive factors should be equal to the value of their products.
Interpretation of GDP: Raise in GDP with remarkable level indicates effectiveness of country in utilizing the available resources optimally in different economic sectors. From this, it can interpreted that standard of living in US has improved in recent years due to increase in per capita of income of people in US. Furthermore, improvement in standards of living is likely to continue on the trend in coming time. It also shows that there is an increase in export and reduction in import of goods and services in US economy. Government has also invested more capital in order to generate revenues through public investment. It can be also interpreted that employment rate has also increased with some extant (Bureau of Economic Analysis, 2013). Apart from this, there were more opportunities for the investors to invest in US market. Many companies from different industries invested in US market that contributed in GDP growth for the country. Therefore, on the basis of recent history and expected future conditions, it can be stated that GDP is likely to rise that will lead to positive economic growth in the near future. References Baumol, W.J. & Blinder, A.S. (2011). Economics: Principles & Policy. USA: Cengage Learning. Bureau of Economic Analysis (2013). Retrieved from http://www.bea.gov/ Keithly, D.M. (2012). The USA and The World 2012. USA: Stryker Post. Avail original, complete and business GDP assignment help services from our experienced experts. We assure you that you will get complete and perfect case study assignment help services from our US,UK and Australia experts.To know more about our services you can contact us 24X7.