Question

Explain how the US economy is doing right now. What factors have caused/contributed to positive and negative changes in the US economic performance in recent years? What are the prospects for the country's economic future?

Answer 1

1. Due to increase in net exports, decrease in slight imports and also by fixed investments, the economic growth inclined in the first quarter of the year. It is slowly recovering from the recession occurred in 2009 after seeing the bottom cons of it.

2. Global growth might slow down and also uncertainties in trade also takes place according to some economic panels. US in majority is dominated by the service oriented corporations in the field of healthcare, technology, finance, retail, etc.,

3. US reflects the total of 20% in global output standing at the top even ahead of China. And it has sixth highest GDP per capita according to International Monetary Fund.

4. It also is the largest exporter of agricultural products due to its innovation of advanced technology in the aspects of agriculture and also facilitation of government subsidies.

5. Larger amounts of its budget is invested in social security and healthcare and it tends to spend more than taking in from all kinds of taxes levied.

6. US dollar is regarded as the world's currency as reserves are found more of it. Almost 60% of reserves of the world are found in terms of US dollar.

7. The main player of the development of it is immigration policy which ultimately lead to the aspect of innovation, economic productivity, skill sharing, etc., This brings out both positive and negative changes according to some policy makers.