The United States Economy is the largest in the world. It represents about 20% of global output. Behind China, The US is the largest manufacturer of the world. The US economy stays on top because of its natural resources, sophisticated physical infrastructure, and well educated workforce. The economy is in a good place right now. It is expanding at a moderate pace contrasting from the US years ago.
Emerging from the recession in 2008 where the economy crashed bringing the housing market and several banks with it, the economy is slowly but surely recovering. Expansionary monetary policies are helping support the breakdown of the economy including deteriorating infrastructure, wage stagnation, rising income inequality , elevated pension and medical cost, and a large current account and government budget deficits.
The labor …show more content…
More than 80% of imports are goods. Some of the imports are oil and petroleum products. There is also capital goods like computers, electronics, and medical equipment. Furthermore, there is consumer goods like cell phones, toys textiles, and footwear. On the side of exports, although the United States lost some edge in the last few decades, exports are still high. The United State exports high-value capital goods and manufactured products . The United states is one of the economic world’s biggest exporters. One part of the US economy is the economic and fiscal policy. The US government had to face the challenge of reversing the effects of the recession with expansionary fiscal and monetary policy. The government usually spends more money than it takes in which causes fiscal deficits continually. After the great depression, the government decided to be more involved in economic affairs. Government stimulus spending and tax cuts prevented the economy from getting worse. Also, the New Deal introduced the fiscal policies and it did not work at first, but later proved to be
Emerging from the recession in 2008 where the economy crashed bringing the housing market and several banks with it, the economy is slowly but surely recovering. Expansionary monetary policies are helping support the breakdown of the economy including deteriorating infrastructure, wage stagnation, rising income inequality , elevated pension and medical cost, and a large current account and government budget deficits.
The labor …show more content…
More than 80% of imports are goods. Some of the imports are oil and petroleum products. There is also capital goods like computers, electronics, and medical equipment. Furthermore, there is consumer goods like cell phones, toys textiles, and footwear. On the side of exports, although the United States lost some edge in the last few decades, exports are still high. The United State exports high-value capital goods and manufactured products . The United states is one of the economic world’s biggest exporters. One part of the US economy is the economic and fiscal policy. The US government had to face the challenge of reversing the effects of the recession with expansionary fiscal and monetary policy. The government usually spends more money than it takes in which causes fiscal deficits continually. After the great depression, the government decided to be more involved in economic affairs. Government stimulus spending and tax cuts prevented the economy from getting worse. Also, the New Deal introduced the fiscal policies and it did not work at first, but later proved to be