Economics

ECONOMIC INDICATORSGross domestic t anointThe gross domestic production is the quantify of goods and services produced in an economy within a achievement of time and usually the duration is one financial course of check of an economy the gross domestic product of country is measured using trine methods , the income approach , the expenditure approach and the product approachAccording to the anele and gunman production by Fady Mansour the GDP of the US has amplifyd payable to an growing in the production of oil in the US , production of oil has increased everywhere the socio-economic classs and this has resulted to an increase in the GDP level which is an economic indicatorThis rise in oil production has been as a result of the Devon nada company exploration efforts to increase the level of oil production this company is the largest oil company in the United States and it produces over 600 ,000 barrels of oil each dayThe graphical record below shows the underway trends of GDP in the US over the past quintuplet formsData was retrieved from HYPERLINK http / entanglement .bea .gov /newsreleases / matter /gdp /gdpnewsrelease .htm network .bea .gov /newsreleases /national /gdp /gdpnewsrelease .htm and it shows the relative percentage change from previous amounts .

The GDP has increased over the years but declined in the year 2005 and 2006UnemploymentUnemployment means those who atomic anatomy 18 capable of working yet they are willing to work but do not buzz off jobs , the level of unemployment is also an economic indicator which shows the level of lax resources in the economy , the level of unemployment is measured by dividing the number of the unemployed with the multiplied by a hundredAccording to the case study by Fady Mansour the level of unemployment has increased this year compared to the previous year 2006 , on that point has been slow economic growth that has been indicated by high puffiness and unemployment levelsThe historical unemployment data is shown below in the graph , data was retrieved from HYPERLINK http /www .forecasts .org /data /data /UNRATE .htm www .forecasts .org /data /data /UNRATE .htmInflationInflation is the persistent rise in prices in the entire economy for an extended period of time , match to Keynes there are two types of lump which include consider pull and cost push , according to the report there has been an increase in the level of inflation as indicated by the consumer price might which is used in the calculation of the inflation rate , there has been a rise in inflation this year compared to the previous year inflation levelThe price of oil increase in mid months of the year 2006 leading to an increase in inflation by 1 .9 , therefore an oil shock leads to inflation in an economy because it a major(ip) input in production in the economyBelow is the consumer price index trend over the years , data was retrieved from HYPERLINK http /www .forecasts .org /data /index .htm www .forecasts .org /data /index .htmCapacity exercisingCapacity utilization refers...If you want to get a full essay, order it on our website: Ordercustompaper.com

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