Is The United States Economy Doing Well Since The Great...

Is the United States economy doing well since the Great Recession? It is, according to economic data. I base my argument on the answers to three states concerning the health of the macroeconomy. The first goal is that of full employment. Full employment is a state in the economy where virtually all who are willing and able to work are employed. The second goal focuses on economic growth, or the growth of our GDP. This is the value of all finished goods and services produced in the United States in a given time period. Good economic growth can be measured by the rate of growth of the GDP. The third goal seeks price stability. Is the value of the dollar inflating, deflating, or staying constant? If the answers to these questions are positive, then it can be stated that our economy is in good shape. We can gauge approximately how well the people in our economy are doing by measuring the unemployment rate. The unemployment rate is the percentage of people who are unemployed divided by th e number of people who are in the labor force. If we observe the most recent data for unemployment, we can see that the rate is 5%. A month ago, the rate was 4.9%. A year ago, it was 5.1%. However, during the end of the great recession, the unemployment rate was 9.5%. Thus, our economy has come a long way from the recession in terms of unemployment. Another measure of economic prosperity is full employment. Full employment is the status achieved when virtually all the people who can work areShow MoreRelatedThe United States Economy And The Economy1484 Words   |  6 PagesEvery country has an economy that shows the give and go of wealth and resources between producers and consumers. Some economies are better than others; here in the United States we have been stuck in a recession, meaning our economy is declining. Even though the United States economy has been in a recession for the past 8 years, its still, if not the best compared to other countries. The United States has a mixed economy made of individual producers and consumers, this economy allows the consumersRead MoreThe Success Of A Recession1418 Words   |  6 Pagesthe road. For example, a recession is not something that just happens over night. In the event leading up to a recession, there are many factors and every recession is unique in their own way. As for the great recession in 2008, the causes included subprime lending, and greed amongst lenders and borrowers. Before jumping straight into the causes of the 2008 recession, first you must be informed of the history in previous recessions America has had to face. Since the Great Depression ended in midRead MoreRole Of The Business Cycle Dating Committee Of The National Bureau Of Economic Research1292 Words   |  6 Pagesimportance of the Business cycle Dating committee of the National Bureau of Economic Research. I will also explain how the NBER defines and dates recessions. Finally I will explain the important aspects and effects of the last recession. The Business Cycle is â€Å"†¦the ups and downs in economic activity, defined in terms of periods of expansion or recession† (Dr. Econ). Expansion is the period in which employment, production, sales and income increase. Likewise, the contrasting contraction is when theRead MoreThe Great Recession : Macroeconomics Project1096 Words   |  5 PagesTHE GREAT RECESSION MACROECONOMICS PROJECT Max: Hi I’m Max Lessins. This is Crash Course for economics and today we’ll be discussing the Great Recession, focusing on the fiscal and monetary policies used to recover from the 2008 economic meltdown. 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They do this with the intention to help the economy as a whole, not one specific sector. Unfortunately