3 percent annual average until 2022 declining slightly 20 percent annual

3 percent annual average until 2022 declining

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to senior Economist Fernando Martin, he found that real GDP would grow at a 2.3 percent annual average until 2022, declining slightly 2.0 percent annual average (Federal Reserve Bank of St. Louis, 2016). According to our textbook, the determinants of economic growth to which we can attribute changes in growth rates include four supply factors: changes in the quantity and quality of natural resources, changes in the quantity and quality of human resources, changes in the stock of capital goods, and improvements in technology (McConnell, 2017). The primary cause for my prediction is because of President Trump taking action in expanding policies such as tax cuts and increased spending level. The Bureau of Economic Analysis indicated growth was driven by higher personal consumption expenditures, nonresidential fixed investment, exports, residential fixed investment, state and local government spending and federal government spending. Those improvements were offset by lower growth in private inventory investment and an increase in imports. The unemployment rate lowered down to 4.1%, which is the lowest since December 2000 (Gillespie & Isidore, 2017). This portrays people are seeking employment or getting employed due to the United States that has been adding jobs to the job market.
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References Federal Reserve Bank of St. Louis. (2016, June 01). Projecting Real GDP Growth for the Next Decade. Retrieved from - economy/2016/march/projecting-real-gdp-growth-next-decade Gillespie, Patrick & Isidore, Chris. (2017). U.S. unemployment drops to lowest in 17 years. CNN Money. Retrieved from - report/index.html McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2017). Macroeconomics . Whitby, Ontario: McGraw-Hill Education. The Economic Times. (2018). What is Gross Domestic Product? Gross Domestic Product Meaning. (n.d.). Retrieved from US Department of Commerce, BEA, & Bureau of Economic Analysis. (n.d.). Bureau of Economic Analysis. Retrieved from
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  • Spring '14
  • Macroeconomics, gross domestic product, government spending, BEA

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