Usa Economics

In: Business and Management

Submitted By gulati
Words 6998
Pages 28
Economics for Business
IMT Dubai

The USA Economy
Project Report submitted to Dr. Sujit

Prepared by group 6:
Abhinav Mohan Babbar - 14004
Ashish Sopori -14018
Manoj K. Sundaram – 14078
Abhishek Tomar - 14005

Introduction of the country

The United States of America (USA or U.S), commonly referred to as the United States is a federal republic [1][2] consisting of 50 states and a federal district. The 48 contiguous states and Washington, D.C., are in central North America between Canada and Mexico.
The United States is a developed country and has the world's largest national economy.3 The economy is fueled by an abundance of natural resources and high worker productivity.4
While the U.S. economy is considered post-industrial, it continues to be one of the world's largest manufacturers.5 The country accounts for 37% of global military spending,6 being the world's foremost economic and military power, a prominent political and cultural force, and a leader in scientific research and technological innovations.7

Economy
The United States has a capitalist mixed economy which is fueled by abundant natural resources and high productivity.8 According to the International Monetary Fund, the U.S.
GDP of $16.8 trillion constitutes 24% of the gross world product at market exchange rates and over 19% of the gross world product at purchasing power parity (PPP).9Its national GDP was about 5% larger at PPP in 2014 than the European Union's, whose population is around
62% higher.10 However, the US's nominal GDP is estimated to be $17.528 trillion as of 2014, which is about 5% smaller than that of the European Union.11 From 1983 to 2008, U.S. real compounded annual GDP growth was 3.3%, compared to a 2.3% weighted average for the The New York Times Guide to Essential Knowledge, Second…...

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