Economics
economy has recently emerged from recession. During 2009, real GDP declined 2.6%, the largest drop during the study period beginning in 2009. This came following flatlined GDP in 2008. The only similar instance on record was in the early 1980s when GDP declined 0.3% in 1980, rebounded slightly and then declined again in 1982 by 1.9% (BEA, 2011). The most recent recession was, because there was no rebound in the middle and because it was deeper in intensity, the most serious decline in economic output in the last thirty years. Whereas the recovery post-1982 was strong (4.5% growth in '83 and 7.2% growth in '84) this has not been the case now (2.9% growth in 2010 and forecasts for 2011 are not much better). The unemployment situation at present roughly mirrors that of the early 1980s recession. During that recession, unemployment moved to 9.7% in 1982 and 9.6% in 1983. During the current recession, unemployment moved to 9.3% in 2009 and 9.6% in 2010. This rate moved down quickly starting in 1984 and has begun to move down today, where it currently sits at 8.8%. It can be argued therefore that the impacts of the current economic slowdown have been at least somewhat stronger than those of the early 1980s recession, and that prospects for recovery are perhaps more challenging.
While the recovery in the mid-1980s was relatively strong, the current recovery seems to be weaker in intensity, especially with respect to the GDP figures. There are significant differences between the two recessions that makes direct comparison only somewhat useful. The early 1980s recession was caused primarily by Federal Reserve policy that raised interest rates sharply in the face of high...
Disrupting America's economic system is a fundamental objective of terrorists Even as the world continues to struggle with the terrible shock from the September 11 attacks in New York and Washington, one principle lesson has already become clear: disrupting our economic system is a fundamental objective of terrorists. Prior to September 11, our economic environment was certainly not immune to terror, in comparison to many other nations; we lived relatively terror-free. Now,
Japan's Economic Crisis Following the United States terrorist attacks on September 11 and the outbreak of mad cow disease, economic analysts are predicting the onset of a deepening recession in Japan. Some are even referring to the possibility of a depression in the world's second largest economy, due to the global economic downturn. Recently released surveys of future trends together with economic data recording economic performance over recent months point at least
economic systems of South Korea and Japan South Korea and Japan which are two emerging countries have had an extremely close economic relationship between them that dates back from the ancient times of the countries to the present. As a result of this, the countries have experienced similar patterns in their economic growth and development though there have been disparate differences that have been brought about by several factors Smith,
To an average individual within the United States however, the relevance is reduced, with importance only for gathering general knowledge on the country. The jurisdiction of the analysis expands as far as the data is available and does not constitute intrusion on matters of national secrecy. 2. Review of Literature 2.1 Research Tools The primary tool to be used in the answering of the posed questions is that of conducting research. This
The federal obligations cause smaller or underdeveloped counties to be economically pressurized. Low income communities, who do not come to stand this pressure, give in to accept substandard living conditions. Lack of social development such as water, waste lines and housing are not the only deprived areas, there are counties which still do not have a facility of communication lines. This is a massive drawback that deprives the counties with
Surging Oil Prices on the U.S. Economy Although the lingering effects of the Great Recession of 2007-2009 continue to dissipate and economic growth resumes, volatile global oil prices remain a source of concern for economists and consumers alike. While the experts debate the precise date at which peak oil will be reached and the search for alternative energy sources has assumed new importance and relevance, it is clear that the
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