The document provides an overview of the United States economy including key statistics such as GDP, GDP growth rate, GDP per capita, inflation rate, labor force statistics, unemployment rate, main industries, electricity production, oil production and reserves, poverty levels, and national debt. It discusses the country's economic history, monetary policy, government intervention in the economy, and predictions about the future direction of the US economy.
Business Economics of US is studied where its market and growth from past to present and future challenges to the growth is covered such as depression and debt problems.
Business Economics of US is studied where its market and growth from past to present and future challenges to the growth is covered such as depression and debt problems.
The founder of Alibaba Jack Ma said that the war will continue for 20 years. The trade war takes a new tern to a war of supremacy of technology. It has been presumed that the next new administration in Washington even cannot withdraw the trade war and it will continue till the raise of China to number one economy of the world toppling USA or until loss of relevance of such war to both the parties.
The Great Depression - Presentation (Macroeconomics Perspective)Arjun Parekh
This brief presentation on 'The Great Depression' has been made from the point of view of understanding Macroeconomic factors that played an important role.
On June 23rd 2016 the UK voted in a referendum to leave the European Union.
Prime Minister David Cameron resigned the morning after the vote
A few weeks later, Theresa May was elected leader of the Conservative Party and new Prime Minister.
The terms of the UK’s new economic relationship with the EU remain uncertain.
Hard Brexit
Means that the United Kingdom leaves the EU Single Market and trades under World Trade Organization rules
Under WTO rules, each member must grant the same market access—including charging the same tariffs—to all other members as the most favoured nation
Soft Brexit
Involves the option of staying in the Single Market (like Norway)
As a member of the European Economic Area (EEA), Norway has a free trade agreement with the European Union, which means that there are no tariffs on trade between the two
The founder of Alibaba Jack Ma said that the war will continue for 20 years. The trade war takes a new tern to a war of supremacy of technology. It has been presumed that the next new administration in Washington even cannot withdraw the trade war and it will continue till the raise of China to number one economy of the world toppling USA or until loss of relevance of such war to both the parties.
The Great Depression - Presentation (Macroeconomics Perspective)Arjun Parekh
This brief presentation on 'The Great Depression' has been made from the point of view of understanding Macroeconomic factors that played an important role.
On June 23rd 2016 the UK voted in a referendum to leave the European Union.
Prime Minister David Cameron resigned the morning after the vote
A few weeks later, Theresa May was elected leader of the Conservative Party and new Prime Minister.
The terms of the UK’s new economic relationship with the EU remain uncertain.
Hard Brexit
Means that the United Kingdom leaves the EU Single Market and trades under World Trade Organization rules
Under WTO rules, each member must grant the same market access—including charging the same tariffs—to all other members as the most favoured nation
Soft Brexit
Involves the option of staying in the Single Market (like Norway)
As a member of the European Economic Area (EEA), Norway has a free trade agreement with the European Union, which means that there are no tariffs on trade between the two
This presentation is focused to analysis how the largest economy in the world by 2013 has been achieved their giant development through many admirable successful contribution as a democratic nation in the world.
Powerpoint with guiding questions about assimilation (melting pot) and integration (salad bowl) as it pertains to the socializing of American immigrants.
When what one says is determined by what one sensually knows to be the case, then, the relationship existing between these two is said to be factual.
Such a factually based statement is said to truthfully represent that which it is referencing and that statement is called a truth.
After reading about the history of welfare in the USA, describe in y.pdfarihantmobilepoint15
After reading about the history of welfare in the USA, describe in your own words how our
current welfare system came to be. What are your thoughts about Sweden\'s welfare system?
How would creating a similar system in the USA impact the field of human services? Why does
the USA not have a welfare system similar to Sweden?
Solution
The US has the largest and most technologically powerful economy in the world, with a per
capita GDP of $49,800. In this market-oriented economy, private individuals and business firms
make most of the decisions, and the federal and state governments buy needed goods and
services predominantly in the private marketplace. US business firms enjoy greater flexibility
than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay
off surplus workers, and to develop new products. At the same time, they face higher barriers to
enter their rivals\' home markets than foreign firms face entering US markets. US firms are at or
near the forefront in technological advances, especially in computers and in medical, aerospace,
and military equipment; their advantage has narrowed since the end of World War II. The onrush
of technology largely explains the gradual development of a \"two-tier labor market\" in which
those at the bottom lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance coverage, and other
benefits. Since 1975, practically all the gains in household income have gone to the top 20% of
households. Since 1996, dividends and capital gains have grown faster than wages or any other
category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude
oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices
ate into consumers\' budgets and many individuals fell behind in their mortgage payments. Oil
prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled
in the same period. Besides dampening the housing market, soaring oil prices caused a drop in
the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at
$840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank
failures, tight credit, and the global economic downturn pushed the United States into a recession
by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest
downturn since the Great Depression. To help stabilize financial markets, in October 2008 the
US Congress established a $700 billion Troubled Asset Relief Program (TARP). The
government used some of these funds to purchase equity in US banks and industrial
corporations, much of which had been returned to the government by early 2011. In January
2009 the US Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 ye.
Week 6 Discussion 1: Presidential Advisor
Required Resources
Read/review the following resources for this activity:
Textbook: Review Chapter 2, 3 (pp. 56-59), 13
Lesson
Additional scholarly sources you identify through your own research
TEXTBOOK:
Magstadt, T. (2017). Understanding Politics: Ideas, institutions, and issues (12th ed.). Boston, MA: Cengage.
Post Instructions:
You are an advisor to the President tasked with cutting at least $300 billion from the budget. The president wants your recommendations to cut lines, not large categories. Explain why you chose those cuts.
Note: THESE ARE NOT TRUE US BUDGET NUMBERS!
.
DOMESTIC PROGRAMS AND FOREIGN AID
Cut some foreign aid to African countries
$17 billion
Eliminate farm subsidies
$14 billion
Cut pay of civilian federal workers by 5 percent
$14 billion
Reduce the overall federal workforce by 10%
$12 billion
Cut aid to states by 5%
$29 billion
MILITARY
Cut the number of nuclear warheads, and end the "Star Wars" missile defense program
$19 billion
Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
$25 billion
Cancel or delay some weapons programs
$19 billion
HEALTHCARE
Enact medical malpractice reform by reducing the chances of large malpractice verdicts
$ 8 billion
Increase the Medicare eligibility age to 68
$ 8 billion
Raise the Social Security retirement age to 68.
$ 13 billion
EXISTING TAXES
Return the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed.
$ 50 billion
End tax cuts for income above $250,000 a year
$ 54 billion
End tax cuts for income below $250,000 a year
$ 172 billion
Payroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare.
$ 50 billion
NEW TAXES
Institute a Millionaire's tax on income above $1 million
$ 50 billion
Add a national 5% sales tax
$ 41 billion
Add a tax on carbon emissions
$ 40 billion
Tax banks based on their sizes and the amount of risk they take.
$ 73 billion
Total gap covered by your budget plan
$_________________
Use evidence (cite sources) to support your response from assigned readings or online lessons, and at
TWO
outside scholarly source.
Summary for discussion post:
Imagine that you’re a high-ranking advisor to the President of the United States (If it helps think of a generic president, not the actual person in the White House), and you’re tasked with cutting at least $300 billion from the budget.
The president wants your recommendations to cut lines, not large categories. Explain why you chose those cuts.
Be sure to list the options you chose with their totals and your overall total as well. Reaching $300 Billion is tough, so I want you to get your total somewhere between $290 - 310 Billion.
-----------------------------------
As you start, this hypothetical budget has a shortfall (or gap ...
Week 6 Discussion 1: Presidential Advisor
Required Resources
Read/review the following resources for this activity:
Textbook: Review Chapter 2, 3 (pp. 56-59), 13
Lesson
Additional scholarly sources you identify through your own research
TEXTBOOK:
Magstadt, T. (2017). Understanding Politics: Ideas, institutions, and issues (12th ed.). Boston, MA: Cengage.
Post Instructions:
You are an advisor to the President tasked with cutting at least $300 billion from the budget. The president wants your recommendations to cut lines, not large categories. Explain why you chose those cuts.
Note: THESE ARE NOT TRUE US BUDGET NUMBERS!
.
DOMESTIC PROGRAMS AND FOREIGN AID
Cut some foreign aid to African countries
$17 billion
Eliminate farm subsidies
$14 billion
Cut pay of civilian federal workers by 5 percent
$14 billion
Reduce the overall federal workforce by 10%
$12 billion
Cut aid to states by 5%
$29 billion
MILITARY
Cut the number of nuclear warheads, and end the "Star Wars" missile defense program
$19 billion
Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
$25 billion
Cancel or delay some weapons programs
$19 billion
HEALTHCARE
Enact medical malpractice reform by reducing the chances of large malpractice verdicts
$ 8 billion
Increase the Medicare eligibility age to 68
$ 8 billion
Raise the Social Security retirement age to 68.
$ 13 billion
EXISTING TAXES
Return the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed.
$ 50 billion
End tax cuts for income above $250,000 a year
$ 54 billion
End tax cuts for income below $250,000 a year
$ 172 billion
Payroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare.
$ 50 billion
NEW TAXES
Institute a Millionaire's tax on income above $1 million
$ 50 billion
Add a national 5% sales tax
$ 41 billion
Add a tax on carbon emissions
$ 40 billion
Tax banks based on their sizes and the amount of risk they take.
$ 73 billion
Total gap covered by your budget plan
$_________________
Use evidence (cite sources) to support your response from assigned readings or online lessons, and at
TWO
outside scholarly source.
Summary for discussion post:
Imagine that you’re a high-ranking advisor to the President of the United States (If it helps think of a generic president, not the actual person in the White House), and you’re tasked with cutting at least $300 billion from the budget.
The president wants your recommendations to cut lines, not large categories. Explain why you chose those cuts.
Be sure to list the options you chose with their totals and your overall total as well. Reaching $300 Billion is tough, so I want you to get your total somewhere between $290 - 310 Billion.
-----------------------------------
As you start, this hypothetical budget has a shortfall (or ...
Global Economic Recession Essay
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American Bankruptcy Case Study
Essay on Russia Ukraine Crisis
Economic Crisis
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Essay about U.S. Economy
Economic Problem Essay
Monetary policy is an important public policy, but it is not the only one to stabilize our economy and reduce its business cycles. The leading central bank, the Federal Reserve of the U.S., has introduced, after the 2008 global financial crisis, new instruments and unusual facilities to implement its new innovative monetary policy. The financial world and mostly the social scientists watch as the Federal Open Market Committee (FOMC) decides on a target interest rate in the federal funds market for the next period. The framework that the FOMC uses to implement monetary policy has changed over the last twelve years and continues to evolve today. Here, we try to evaluate the new instruments and their “effectiveness”. Before the 2008 financial crisis, policymakers used one set of traditional instruments (tools) to achieve the target rate. However, several policy interventions, introduced soon after the crisis, drastically altered the landscape of the federal funds market and the traditional economic theory. This new and uncertain environment, with enormous reserves and even interest on reserves, necessitated a new set of instruments by the Fed for its monetary policy implementation. Lately, after seven years of zero interest rate, the FOMC began in December 2015 to increase the target rate and then, went back again to a lower one, but many questions arise. How did they evaluate the effectiveness of these new instruments? Is the current federal funds rate the appropriate one for our economic wellbeing? How efficient was so far this ZIR monetary policy after the latest global financial crisis? Why the Fed put all these burdens of its ‘innovated” new monetary policy to the poor taxpayers (bail out) and to the risk-averse depositors (bail in)? Is it possible for the Fed’s policy to prevent the future financial crises? The federal funds rate was very low and affected negatively the financial markets (bubbles were growing), the real rates of interest (it is negative for twelve years), and the deposit rates (they are closed to zero for twelve years). The redistribution of wealth of depositors and taxpayers continues, which means the true economic welfare is falling and a new global recession was in preparation, if the current unfair easy money policy will persist, ignoring the necessity of a prevention of financial crises. Then, it came as an unexpected plague the coronavirus pandemic, following with a new but, the worse in economic history global crisis (chaos).
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
3. What is an Economic System? An Economic system is a long-term arrangement by which various units with in a society are induced to cooperate in production, distribution and the use of aggregated product, including the means of control over productive factors and freedom or constraints on individual units in the existing factor or goods market.
4. Currency United States Dollar (USD) Fiscal year 1 October - 30 September Trade organizations NAFTA (North American Free Trade Agreement), WTO( World Trade Organization), OECD (Organization for Economic Corporation and Development) and others Statistics GDP (PPP)$13.84 trillion (2007 est.) GDP growth 2.2% (2007 est.) GDP per capita $46,000 (2007 est.) GDP by sector Agriculture (0.9%) Industry (20.6%) Services (78.5%) Inflation (CPI) 5.0% (Jun 2007 to Jun 2008)
5. Labor force 154.5 million (includes unemployed) (May 2008) Labor force by occupation managerial and professional (35.5%) Technical, sales and administrative support (24.8%), Services (16.5%), Manufacturing, mining, transportation, and crafts (24%), Farming, forestry, and fishing (0.6%) (excludes unemployed) Unemployment 5.5% (May 2008) Main industries: Petroleum, Steel, Motor vehicles, Aerospace, Telecommunications, Chemicals, electronics, Food processing, Consumer goods, Lumber, Mining, Defense
9. History of US Economy In 1933, Congress created the Federal Deposit Insurance Corporation (FDIC) which presently guarantees checking and savings deposits in member banks up to $100,000 per depositor to prevent bank failures. This was in response to the widespread bank runs of the early 1930s during the Great Depression. The economic history of the United States has its roots in European settlements in the 16th, 17th, and 18th centuries.
10. CONTD…. The American colonies progressed from marginally successful colonial economies to a small, independent farming economy, which in 1776 became the United States of America. In 230 years the United States grew to a huge, integrated, industrialized economy that makes up over a quarter of the world economy. The main causes were a large unified market, a supportive political-legal system, vast areas of highly productive farmlands, vast natural resources (especially timber, coal and oil), and an entrepreneurial spirit and commitment to investing in material and human capital. The economy has maintained high wages, attracting immigrants by the millions from all over the world.
11. For many years following the Great Depression of the 1930s, recessions—periods of slow economic growth and high unemployment—were viewed as the greatest of economic threats. When the danger of recession appeared most serious, government sought to strengthen the economy by spending heavily itself or cutting taxes so that consumers would spend more, and by fostering rapid growth in the money supply, which also encouraged more spending. In the 1970s, economic woes brought on by the costs of the Vietnam conflict, major price increases, particularly for energy, created a strong fear of inflation. As a result, government leaders came to concentrate more on controlling inflation than on combating recession by limiting spending, resisting tax cuts, and reining in growth in the money supply.
12. CONTD.. Ideas about the best tools for stabilizing the economy changed substantially between the 1960s and the 1990s. In the 1960s, government had great faith in fiscal policy—manipulation of government revenues to influence the economy. Since spending and taxes are controlled by the president and the U.S. Congress, these elected officials played a leading role in directing the economy. A period of high inflation, high unemployment, and huge government deficits weakened confidence in fiscal policy as a tool for regulating the overall pace of economic activity. Instead, monetary policy assumed growing prominence. Since the stagflation of the 1970s, the U.S. economy has been characterized by somewhat slower growth.
13. Government Intervention Some efforts seek, either directly or indirectly, to control prices. Traditionally, the government has sought to prevent monopolies such as electric utilities from raising prices beyond the level that would ensure them reasonable profits. At times, the government has extended economic control to other kinds of industries as well. In the years following the Great Depression, it devised a complex system to stabilize prices for agricultural goods, which tend to fluctuate wildly in response to rapidly changing supply and demand.
14. CONTD… A number of other industries—trucking and, later, airlines—successfully sought regulation themselves to limit what they considered as harmful price cutting. Another form of economic regulation, antitrust law, seeks to strengthen market forces so that direct regulation is unnecessary. The government—and, sometimes, private parties—have used antitrust law to prohibit practices or mergers that would unduly limit competition.
15. Monetary Policy The federal government attempts to use both monetary policy (control of the money supply through mechanisms such as changes in interest rates) and fiscal policy (taxes and spending) to maintain low inflation, high economic growth, and low unemployment. A relatively independent central bank, known as the Federal Reserve, was formed in 1913 to provide a stable currency and monetary policy. The U.S. dollar has been regarded as one of the most stable currencies in the world and many nations back their own currency with U.S. dollar reserves. During the last few years, the U.S. dollar has gradually depreciated in value and its reserve currency status is no longer as high as previously.
16. National Debt The national debt, also known as the U.S. public debt (part of which is the gross federal debt), is the overall collective sum of yearly budget deficit owed by all branches of the United States government, plus interest. The economic significance of this debt and its potential ramifications for future generations of Americans are controversial issues in the United States. As of January 30, 2008, the total U.S. federal debt was approximately $9.20 trillion, or about $79,000 in average for each of the 117 million American taxpayers. The borrowing cap debt ceiling as of 2005 stood at $8.18 trillion.
17. CONTD… In March 2006, Congress raised that ceiling an additional $0.79 trillion to $ 8.97 trillion, which is approximately 68% of GDP. Congress has used this method to deal with an encroaching debt ceiling in previous years, as the federal borrowing limit was raised in 2002 and 2003. While the U.S. national debt is the world's largest in absolute size, a more convenient measure is that of its size relative to the nation's GDP. When the national debt is put into this perspective it appears considerably less today than in past years, particularly during World War II. By this measure, it is also considerably less than those of other industrialized nations such as Japan and roughly equivalent to those of several western European nations.
19. EXTERNAL DEBT: LIABLITIES TO FORIGNERS Gross U.S. liabilities to foreigners are $16.3 trillion as at end 2006.(over 100% of GDP). The U.S. Net International Investment Position (NIIP) deteriorated to a negative $2.5 trillion at the end of 2006, or about minus 19% of GDP. This figure rises as long as the US maintains an imbalance in trade, specifically, when the value of imports substantially outweighs the value of exports. It should be noted that this external debt does not, for the most part, represent lending to Americans or the American government, nor is it consumer debt owed to non-US creditors. However, this is not the whole picture, as foreign holdings of government debt currently amount to about 27% of the total, or some 2 trillion dollars.
20. CONTD… For countries like the United States, a large net external debt is created when the value of foreign assets (debt and equity) held by domestic residents is less than the value of domestic assets held by foreigners. In simple terms, as foreigners buy property in the US, this adds to the external debt. When this occurs in greater amounts than Americans buying property overseas, nations like the United States are said to be debtor nations , but this is not conventional debt like a loan obtained from a bank. However, foreigners also purchase U.S. debt instruments, such as government bonds, which are forms of conventional debt.
21. Poverty Here is significant disagreement about poverty in the United States, particularly over how poverty ought to be defined. Using radically different definitions, two major groups of advocates have claimed variously that (a) the United States has eliminated poverty over the last century; or (b) it has such a severe poverty crisis that it ought to devote significantly more resources to the problem. The debate includes how poverty should be defined. Measures of poverty can be either absolute or relative. Absolute poverty is defined in real dollar values, whereas relative poverty is a comparison of the highest to the lowest standard of living at a particular time period.
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23. Economic predictions and forecasting Predictions about the direction of the United States economy in the short term and long term are crucial factors in determining federal government policies, business decisions, and Federal Reserve decisions. Several institutions make economic predictions, including: Global Insight, and the UCLA Anderson Forecast. Various state agencies, including the California Department of Finance.