Conclusion the internet is a global network which

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Conclusion The internet is a global network which facilitates communication and a variety of information using interconnected networks. Gross Domestic Product is the value of everything produced by either the residents or industries of a country. The GDP assists central banks and policy makers to judge whether the economy is expanding or contracting and whether it needs a restrain or a boost. The GDP keeps fluctuating because of the business cycle keeps shifting. The Gross Domestic Product directly impacts on an individual`s personal finance, job growth, and
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investment. Investors use the growth rate to make decisions relating to the allocation of assets. A slow growth rate normally leads to unemployment and layoffs. Some of the positive effects the Internet has had on US GDP (Gross Domestic Product) include creation of employment opportunities hence making people to earn income. Surprisingly, even when the rates of employment on other production sectors are declining, the rate of employment in internet is still rising. In most of the developed countries such as the United States, the internet exerts a lot of influence on the rate of economic growth. The internet contributes an average of 4.2 percent towards the GDP that makes 70 percent of the GDP globally. The expenditure and internet related consumption is currently bigger than energy or agricultural sector. In essence, the internet is a huge contributor to the United States economy, specifically on the Gross Domestic Product in a way that exceeds sectors that are more established.
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References Manyika, J., & Roxburgh, C. (2011). The great transformer: The impact of the Internet on economic growth and prosperity. McKinsey Global Institute , 1 . Siwek, S. E. (2015). Measuring the US Internet Sector . Internet Association, 32.
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  • Spring '16
  • Economics, Economy of the United States, gross domestic product

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