Do Thanh Tung - T Principles of Macroeconomics Eco2351...

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T Principles of Macroeconomics – Eco2351 Spring 2009 STU – ITPC – Troy University What has the US Government done to recover the US economics from the beginning of 2009 until now? and why? Full name: Do Thanh Tung Student ID: Class: Eco2351 – AM Class 1
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The financial of The United States can be affected to the economy of the global. In recent years, U.S.A has experienced many problems in financial. The Government has done by some methods to recover the economics of the US from the beginning 2009 until now.The big degradation of financial in globe has began from The United States. The government of president Barrack Obama has a strong hand to inhibit of bad crisis through solutions comprehensive which has appreciated that are determined and initial good signal to overcome the worst recession in the story. The United States has a capitalist mixed economy, which is fueled by abundant natural resources, a well-developed infrastructure, and high productivity. According to the International Monetary Fund, the U.S. GDP of $14.3 trillion constitutes 23% of the gross world product at market exchange rates and almost 21% of the gross world product at purchasing power parity (PPP). The largest national GDP in the world, it was about 4% less than the combined GDP of the European Union at PPP in 2007. The country ranks seventeenth in the world in nominal GDP per capita and sixth in GDP per capita at PPP. The United States is the largest importer of goods and third largest exporter, though exports per capita are relatively low. Canada, China, Mexico, Japan, and Germany are its top trading partners. The leading export commodity is electrical machinery, while vehicles constitute the leading import. The United States tops the overall ranking in the Global Competitiveness Report. After an expansion that lasted just over six years, the U.S. economy has been in recession since December 2007. In 2009, the private sector is estimated to constitute 55.3% of the economy, with federal government activity accounting for 24.1% and state and local government activity (including federal transfers) the remaining 20.6%. The economy is postindustrial, with the service sector contributing 67.8% of GDP. The leading business field by gross business receipts is wholesale and retail trade; by net income it is finance and insurance. The United States remains an industrial power, with chemical 2
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products the leading manufacturing field. The United States is the third largest producer of oil in the world, as well as its largest importer. It is the world's number one producer of electrical and nuclear energy, as well as liquid natural gas, sulfur, phosphates, and salt. While agriculture accounts for just under 1% of GDP, the United States is the world's top producer of corn and soybeans. The New York Stock Exchange is the world's largest by dollar volume. Coca-Cola and McDonald's are the two most recognized brands in the world.
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