Today, the US economy remains the largest in the world. It is the second largest overall trading nation and the world's second largest manufactured goods producer: making nearly 20 percent of all goods manufactured in the world. It is also the third largest producer of oil and natural gas. The US consistently ranks around ninth or tenth in the world for per capita GDP, and American workers have some of the highest average household incomes in the world. Unfortunately, the gap between the wealthy and poor is also larger in the United States than anywhere else in the world.
The overall financial picture for the United States, as of 2014, included $269.6 trillion of assets owned by households, businesses, and governments within America's borders. That represented 15.7 times the annual gross domestic product of the United States that year. On the other hand, the US owed debts that year amounting to $145.8 trillion. That equates to about 8.5 times the annual gross domestic product for 2014. …show more content…
Unemployment dropped from a high of 9.9 percent in 2010 to a much more typical 5.4 percent by April of 2015.
The US economy is a "mixed economy," as both private interests and state interventionism play a role. Predominantly driven by private ownership, the nation's GDP has maintained overall steady growth rate for decades. In addition, the US economy benefits from abundant natural resources, strong industrial and agricultural production, a large and well-developed service industry, as well as extremely high rates of research, innovation, and capital
The overall financial picture for the United States, as of 2014, included $269.6 trillion of assets owned by households, businesses, and governments within America's borders. That represented 15.7 times the annual gross domestic product of the United States that year. On the other hand, the US owed debts that year amounting to $145.8 trillion. That equates to about 8.5 times the annual gross domestic product for 2014. …show more content…
Unemployment dropped from a high of 9.9 percent in 2010 to a much more typical 5.4 percent by April of 2015.
The US economy is a "mixed economy," as both private interests and state interventionism play a role. Predominantly driven by private ownership, the nation's GDP has maintained overall steady growth rate for decades. In addition, the US economy benefits from abundant natural resources, strong industrial and agricultural production, a large and well-developed service industry, as well as extremely high rates of research, innovation, and capital