logo

Economic History Analysis: Examining Foreign Trade Practices and GDP Growth Rate of the United States

   

Added on  2023-06-15

30 Pages2023 Words275 Views
Economic History Analysis

Introduction
This study selects the period of 10
years (2006 to 2016) of United States
and analyses the foreign trade
practices of the nation.
This reflects the study of specific
economies or else economic
phenomenon of the previous period.
Evaluation in economic history is
carried out utilizing a specific
combination of historical mechanisms,
statistical mechanisms and
implementation of economic theory to
various historical circumstances
(Mankiw, 2014).

Highlights of economy: Milestone
Economy of the United States reflects about 20%
of the entire worldwide output
As per reports of IMF, the United States has the
sixth largest per capita gross domestic product
(Agénor & Montiel, 2015)
Economy of the United States is mainly
dominated by particularly services-oriented
corporations particularly namely technology,
financial service units, healthcare units as well as
retail

Milestone: GDP Growth rate and trends in
USA
2006 2.666625826
2007 1.77857024
2008 -0.291621459
2009 -2.775529574
2010 2.531920616
2011 1.601454672
2012 2.224030854
2013 1.67733153
2014 2.569193594
2015 2.861587025
2016 1.485279193
USA GDP Growth rate (annual percentage)
200
6
200
7
200
8
200
9
201
0
201
1
201
2
201
3
201
4
201
5
201
6
S
e
r
i
e
s
1
2.66
662
582
612
2
1.77
857
023
965
289
-
0.29
162
145
869
395
3
-
2.77
552
957
416
808
2.53
192
061
616
315
1.60
145
467
247
139
2.22
403
085
385
714
1.67
733
152
992
453
2.56
919
359
418
927
2.86
158
702
527
237
1.48
527
919
319
147
-3
-1
1
3
GDP Growth Rate: USA

Analysis of the GDP growth rate trend
The United States is the largest
economy in the world. Yet for the
past two decades the growth rates
have been dwindling.
During the 1950s and 1960s the
growth rate used to be over and
above 4%.
However, it is evident from the data
(2006 to 2016), the average rate of
growth has remained below 2%.

Specific models to illustrate how specific
historical events have affected national output
Keynesian Cross Model: The Keynesian cross model also
known as the Expenditure output model can help in
explaining the association between aggregate expenditure
and economic output in particularly the Keynesian model

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Micro and Macro: The Economic Divide
|11
|1552
|19

Performance of USA Economy from 2008 to 2018
|16
|3141
|43

FNSINC601 Apply Economic Principles to Work in the Financial Services Industry
|29
|4366
|59

The GLOBAL ECONOMY 20 20 Running Head
|22
|3600
|159

Curbing Unemployment in the US Economy: Policy Brief
|10
|1525
|110

Economic Performance of Singapore: Analysis of GDP, Unemployment, and Inflation
|13
|3079
|305