Essays on American Economy

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Economic inequality in America

Economic Inequality in America The Occupy movement gained fame in September 2011 with a slogan that brought together a wide range of people, “We are the 99 percent. ” The goal of the group is to get rid of economic inequality throughout the world. The …

American EconomyInequalityMacroeconomicsWealth
Words 956
Pages 4
The Impact of Innovation Jobs and High Tech Industries on the American Economy

The impact of innovation jobs and high tech industries on the american economy presented in enrico morettis the new geography of jobs Just fifty years ago, manufacturing was the driving force behind the American economy. The automobile industry was thriving, and so were cities like …

American EconomyIndustriesInnovation
Words 1707
Pages 7
American economy of the 20th century

The growth of industry in the last half of the 19th century laid the foundation for American economy of the 20th century [1]. The expansion was driven by large-scale industrial development and railroads that led to an urbanized industry primarily in the Northeast, and promoted …

20th CenturyAmerican EconomyInflationWelfare
Words 77
Pages 1
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The Causes and Effects of the Homestead Strike

The Amalgamated Association of Iron and Steel Workers (AA) was on the rise in the recent years before July of 1892. Its membership nearly doubled since its last victory at Homestead in 1889, after which steel output was limited by the collective bargaining agreement. As …

American EconomyEmployment
Words 640
Pages 3
Richard and Maurice McDonald: Pioneering Fast-Food’s Golden Arches

Introduction In the bustling world of American fast food, few names carry the weight and historical significance of the McDonald brothers, Richard and Maurice. As a college student studying business evolution and entrepreneurship, I’m drawn to the story of these siblings who didn’t just establish …

American EconomyEconomicsFast Food
Words 534
Pages 2
American Economy

In a broad sense, the macroeconomic policies developed and implemented by the Federal Reserve (the Fed) are those which regulate the national supply of money. Either through foreign exchange operations, or management of public funds, the Fed seeks to maintain the level of money supply …

American EconomyBankingInflationMoney
Words 89
Pages 1
China vs. american economy

China’s economy will become the biggest in the world sometime very soon. According to the World Bank, the size of China’s economy is $10. 1 trillion, compared with $14. 6 trillion for the U. S. , based on purchasing power parity (which adjusts exchange rates …

American EconomyChinaGlobalizationMacroeconomics
Words 283
Pages 2
A Study of the Role of the State in the United States Economy and the Need for Government

Can man commit acts of righteousness without guidance? Under corporate personhood of the United States justice system, a corporation is seen as an entity, a person. So, can a corporation commit acts of commutative injustice without mediation? A higher authority must be needed to ensure …

American EconomyGovernment
Words 1576
Pages 6
Caterpillar: A Mission Statement Evaluation

Headquartered in Peoria, III. Caterpillar Inc. is the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. It is a fortune 100 company, ranked number 1 in its industry, with more than $26 billion in assets. It …

American EconomyBusiness
Words 1312
Pages 5
An Outline of the Process of Counter Urbanisation and Its Effects

Counter urbanisation is the process of people migrating from major urban areas to smaller urban settlements and rural areas. The process of counter-urbanisation occurs due to push factors from urban areas, such as the closure of industrial factories resulting in unemployment, and pull factors from …

American EconomyUrban Planning
Words 465
Pages 2
Gilded Age as an Example of Economic Development by Principles Laissez Faire

Finally, in 1854, the US learned to make lighting kerosene, a patent was filed for its use ‘for lighting and other purposes’ and it was from this time that there was a steady demand for oil for its industrial use. The first kerosene plant was …

American EconomyGilded AgePetroleum
Words 1889
Pages 7
Rivera’s Pan American Unity: Economic Themes from the North and South

Throughout the late 1920’s many American patrons of the arts had attempted to bring the famous Mexican muralist, Diego Rivera, to the United States for commissioned works. It wasn’t until September of 1930 that Rivera finally arrived in San Francisco to paint. His wife, the …

American EconomyMexico
Words 685
Pages 3
Why Doesn’t America Raise the Federal Minimum Wage

As we look at our living expenses and income it isn’t hard to believe that people can still live at the minimum wage level. In the U.S alone, there are roughly 313 million people, 1.6 million of those Americans are living under or right at …

American EconomyEmploymentMinimum Wage
Words 1858
Pages 7
How to be Become Best Sales Man

The American Dream. This is what most every American wants. To have wealth and prosperity. In the book Death of a Salesman by Arthur Miller, Willy Loman in pursuing this dream through all means. Willy Loman, a man in his 500s has worked hard all …

American EconomyAnalyticsEconomics
Words 730
Pages 3
The Mexican & American Economy

Growth has slowed considerably in early 2001 in response to the hard downturn in the US economy. The Gross Domestic Product (GDP) growth in 2001 is forecast to slow to 2%, from 6.9% in 2000. A rebound of growth in 2002 will depend on an …

American EconomyInflationMacroeconomicsMexican
Words 464
Pages 2

United States Dollar


Gross domestic product: 20.94 trillion USD (2020)

Unemployment rate: 5.2% (Aug 2021)

GDP growth rate: -3.5% annual change (2020)

GDP per capita: 63,543.58 USD (2020)

Gross national income: 21.69 trillion PPP dollars (2019)

GNI per capita: 66,060 PPP dollars (2019)

Frequently asked questions

How would you describe America's economy?
The United States has the largest economy in the world, with a GDP of over $19 trillion. The economy is fueled by a highly productive workforce, a large amount of natural resources, and a wide variety of industries. The country is also home to a large number of multinational corporations. The service sector is the largest sector of the economy, followed by the manufacturing sector. The agricultural sector is a significant contributor to the economy as well.The United States has a free market economy, which means that there is little government intervention in the economy. The country is highly competitive, and businesses are constantly innovating to stay ahead of the competition. The economy is always changing, and this can be both good and bad for businesses and workers. On the one hand, it means that there are always new opportunities for businesses to grow and for workers to find new jobs. On the other hand, it can also mean that workers can be laid off if their jobs are no longer needed.
What makes up America's economy?
In the United States, the economy is composed of a variety of sectors including manufacturing, agriculture, energy, technology, and services. The service sector is the largest sector of the economy, accounting for about 80% of the jobs in the country. The manufacturing sector is the second largest sector, accounting for about 10% of the jobs. The agriculture sector is the third largest sector, accounting for about 2% of the jobs. The energy sector is the fourth largest sector, accounting for about 1% of the jobs. The technology sector is the fifth largest sector, accounting for about 0.5% of the jobs.
How is the economy of the US doing?
The United States has the largest economy in the world. Its GDP was estimated at $20.513 trillion in 2020, representing about 24% of the world economy. The US economy is characterized by a high level of economic freedom, a large private sector, and a relatively high level of income inequality. The US is the world's largest importer and exporter of goods and services. It is also the world's largest creditor nation. The US economy is largely driven by consumption and investment, which account for about 70% of GDP. The government sector accounts for about 20% of GDP, and the remaining 10% is accounted for by net exports. The US has a mixed economy, which means that the government intervenes in the economy to some extent, but the private sector is still the primary driver of economic activity. The US tax system is progressive, meaning that wealthier individuals and corporations pay a higher percentage of their income in taxes than lower-income individuals and businesses. The US government also provides a safety net of sorts for its citizens, through programs like Social Security and Medicare. Overall, the US economy is doing well, although there are always areas of improvement.

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