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Posted: February 19th, 2022
While observing the website, I noticed back in 2008 was when everything started to shift and in 2009,
Q.1 Write reply for this discussions
While observing the website, I noticed back in 2008 was when everything started to shift and in 2009, it looks like it wasn’t any better, possibly much worse. The current GDP rate is -3.4 which seems to be worse then what it was before. I think most of this is because of the pandemic we’re under. The past few years have had a much better trend and stayed consistent. It seems that U.S. is struggling in most of the metrics as illustrated in the table but they seem to be highly active in durable goods. I think it’s because of the supply and demand of the products that need to be made and since some items are more at need than others, this ramps up revenue quickly. As I noticed on the table that goods, both durable and nondurable were at its low during the year 2009 but then increased rapidly throughout the years. I also noticed that export and import goods were bad the same year and then gradually increased. I think most of this happened because of several things, such as, new leadership that took over the country, and forming alliances with other countries where exported goods come from. It seems that when the economy hits something catastrophic, it falls hard because supplies and resources start to become limited.
Resource:
BEA: Data Tools. (2022). Bureau of Economic Analysis. Retrieved January 25, 2022, from https://apps.bea.gov/https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=2#reqid=19&step=2&isuri=1&1921=surveystep=2&isuri=1&1921=survey
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1. Write a response to this conversation.
While looking over the website, I saw that everything started to shift in 2008, and it doesn’t appear that things got much better in 2009, if not much worse. The current GDP rate is -3.4, which is worse than it was previously. The majority of this, I believe, is due to the current pandemic. The trend has been much better in recent years and has remained stable. The United States appears to be failing in most of the measures shown in the table, but they appear to be very active in durable goods. I believe it is due to the supply and demand of the things that must be manufactured, as well as the fact that some items are more in demand than others.
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