Economy Performance Essay

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Gross Domestic Product Author’s Name Institutional Affiliation Gross Domestic Product No.1 The gross domestic product shows the total value of the dollar of the entire goods and the services that are produced over a particular span of time. The GDP refers to the financial value of the goods and services that are completed produced within the country's boundaries in a particular period. In 2008 the GDP was $14.22 trillion; in 2009 the GDP dropped to $13.86 trillion, then in the next years that are 2010, 2011, 2012, 2013, and 2014 the GDP when on rising (Corona, 2011). The reason for the downturn observed in the year 2009 was because decline or the downturn of the United States economy. The increase in the gross domestic product found in the years proceeding was once more because of the improvement in the economy of the United States, for the government stimulus was working. The real Gross Domestic product refers to the output value of the economy that is adjusted for the changes that occur in the prices. The real GDP represents the value of the entire goods and the services that are produced, with the adjustment for the inflation. In the year 2008, the United States real GDP was $13.16 trillion, in the year 2009 the real GDP of US went down to $12.7 trillion, in the next financial year 2010 the real GDP increased to $13.03. In the next years, the real GDP was seen to go up because of the improvements in the economy of United States. No.2 In the year 2008, the national income in United States was $12.6 trillion. The national income is utilized in the measurement of the value of the money in the flow of the goods and services output produced in the financial system over a span of time like one year. The difference that exists between the
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