Question

provide the GDP growth rate. from 2000 - 2010 in the US

discuss what factors influenced the national output from 2000 - 2010 in the US.

Answer 1

Following is GDP data of US Economy:

Dec 31, 2010	4.19%
Dec 31, 2009	0.47%
Dec 31, 2008	-0.83%
Dec 31, 2007	4.59%
Dec 31, 2006	5.29%
Dec 31, 2005	6.47%
Dec 31, 2004	6.40%
Dec 31, 2003	6.30%
Dec 31, 2002	3.86%
Dec 31, 2001	2.12%
Dec 31, 2000	5.45%

Between 2000 and 2010, US economy suffered two economic crisis. Second one was severe and predominant. Tech bubble hit economy but impacts were not so severe to worried upon. gradually economy began to recover and between 2003 and 2006, economy moving on right path.

it was 2007- 08, economy was hit by financial crisis or subprime crisis. People wealth were reduced significantly and over $ 7 trillion were lost and unemployment rate shot up to 10 % of labor force. it was hard time. Government had to follow large fiscal deficit to restore equilibrium in economy.