Predicting the Future of the United States Economy Essay -- economics

It is to my belief that no one kindle possibly auspicate the future of the parsimoniousness. Because of this we are faced with many questions that tail endnot be easily answered. lead the economy recover drastically or simply continue to cast up mode measurely? Or could the economy in turn go into a recession? Theres been plenty of good crudes about the U.S. economy handicraft is expanding (2.4 million new payroll jobs in the last year) inflation dust low (less than a 2 percent rate in the by quarter) the stock market is high (up 11 percent on the Dow from its November low), and duty investment is impressive (rising at a 14 percent rate in late 2004). (1) It is my opinion that unless something drastic happens in the world today, validating or negative, the economy will continue to increase at a modest rate. Even though no one quite knows which delegacy our economy is caput, at that place are many economic concepts designed to care measure positive and negative cha nges that can show us how wellhead we are or are not doing. These concepts include examples such as gross domestic product (gross domestic product), business cycle, and unemployment rate. It is just human record to want economy growth because it will lead to higher incomes and higher living standards. In order to see which direction our economy is heading and measure our economic performance, a system was invented that measures the value of all lowest goods and services produced within a country during a circumstantial halt of time, usually a year. This system it called gross domestic product (GDP). These figures are closely watched by those in the business and financial communities to measure our economys growth. GDP is a measure of the economys output. It is thrifty by counting all final goods and services once and only once that are produced during a current period, within the country. GDP can be measured by resumeing the expenditures on goods and services prod uced during a specific time frame. This is referred to as the expenditure approach. Conversely, GDP can be reached by adding the income payments to resources suppliers and the other costs of producing those goods and services. Production of goods and services can be costly because it requires resources that cannot be used else where. These expenses generate incomes for resource suppliers. Therefore, this method of calculating GDP is referred to as resource cost-income a... ... The rate of unemployment is an primary(prenominal) measurement of the conditions in the total labor market. The rate of unemployment is the percentage of people in the labor posture who are unemployed. It is equal to the number of people unemployed divided by the number of people in the labor force multiplied by 100. The department of Labor indicates five reasons why people may roll in the hay unemployment. These reasons included new entrants, reentrants, job leavers, dismissed, on layoff. As the wor ld changes, new products are introduced and new technologies are developed, some unemployment is inevitable. However, there can be a positive side to job searching because an individual can possibly find a better job. Even though no one can quite know which way our economy is heading, by closely observing our gross domestic product (GDP), business cycle, and unemployment rate we will have a better understanding. Because our world is so dynamic, there are so many variables that can change in an second gear creating a peak or recession in our economy. The most important thing to remember, however, is neither a peak nor recession last everlastingly so the only thing that remains constant is change.