How did the contribution of the services sector to GDP change between 2009 and 2011? It rose significantly. produces more goods and services. Which unemployment rate do most economists consider to be acceptable in the United States?
How did the contribution of the services sector to GDP growth change between 2010 and 2011?
How did the contribution of the goods-producing sector to GDP growth change between 2010 and 2011? It fell by 2.3% . You just studied 12 terms!
What was GDP growth in 2009?
In 2009, the GDP growth rate was -2.5% . In other words, the economy contracted 2.5%. 8 This measures the changes in real GDP from quarter to quarter. The ideal GDP growth rate is between 2% to 3%.
Which of the following statements best describes what happened to the GDP in 2008?
Which of the following statements best describes what happened to the GDP in 2008? The GDP fell because of a major recession . ... China's GDP has grown the fastest of any of the countries shown on this graph. Consumer sentiment is a measure of attitudes about the economy in general and individual financial prospects.
What was the economic growth in 2011?
According to today's data release from the Bureau of Economic Analysis, gross domestic product—the broadest measure of the nation's economic activity—grew at an annualized rate of 2.8 percent in the fourth quarter of 2011, an increase from the previous quarter's 1.8 percent growth rate and the highest quarterly rate of ...
What was the GDP in 2009?
| Date Value | Dec 31, 2010 15.81 trillion | Dec 31, 2009 15.38 trillion | Dec 31, 2008 15.37 trillion | Dec 31, 2007 15.77 trillion |
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Why was unemployment so high in 2009?
The collapse of the housing bubble in 2007 and 2008 caused a deep recession , which sent the unemployment rate to 10.0% in October 2009 – more than double is pre-crisis rate.
Which if the following is the primary measure of a nation's income and output?
Gross domestic product (GDP) is one of the most common indicators used to track the health of a nation's economy. The calculation of a country's GDP takes into consideration a number of different factors about that country's economy, including its consumption and investment.
Which of the following is the primary measure of a nation's income and output group of answer choices?
The size of a nation's economy is commonly expressed as its gross domestic product, or GDP , which measures the value of the output of all goods and services produced within the country in a year.
Which one of the following is the best explanation of stagflation?
Stagflation is characterized by slow economic growth and relatively high unemployment —or economic stagnation—which is at the same time accompanied by rising prices (i.e. inflation). Stagflation can be alternatively defined as a period of inflation combined with a decline in the gross domestic product (GDP).
What was the GDP for 2011?
| Year GDP in billion current U.S. dollars | 2014 17,527.3 | 2013 16,784.9 | 2012 16,197 | 2011 15,542.6 |
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What happened to the economy in 2012?
At the end of 2012, the U.S. debt was $16.05 trillion . That made the debt-to-GDP ratio 100%, higher than at any time since World War II. 23 Debt was driven by government spending and reduced revenue from taxes, thanks to slow economic growth. The Fiscal Year 2012 budget deficit was $1.077 trillion.
How was the global economy from 2011?
Through the first three quarters of 2011, the U.S. economy expanded at a 1.2 percent annual rate . ... Government layoffs and budget cuts, particularly at the local level, slashed growth by about half a percentage point. On the positive side, meanwhile, the biggest driver of growth was an increase in personal consumption.
Who is to blame for the Great Recession of 2008?
Most of the blame is on the mortgage originators or the lenders . That's because they were responsible for creating these problems. After all, the lenders were the ones who advanced loans to people with poor credit and a high risk of default. 7 Here's why that happened.
How did GDP change from 2008?
New statistics released today by the U.S. Bureau of Economic Analysis show that economic growth slowed in most states and regions of the U.S. in 2008 as economic growth overall slowed. ... Growth in real U.S. GDP by state slowed from 2.0 percent in 2007 to 0.7 percent in 2008 .
What was the unemployment rate in 2009?
At the end of the recession, in June 2009, it was 9.5 percent . In the months after the recession, the unemployment rate peaked at 10.0 percent (in October 2009).
