Economy? What Is the Inflation Essay

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It was the smallest monthly jobs growth since August 2003, when only 2,000 jobs were added, according to revised figures from the Labor Department.

6. How does the current structure affect the threat of cost push inflation or deflation?

There are no inflationary or deflationary signs in recent reports.

7. What is the growth rate of GDP?

The current growth rate of the Gross Domestic Product (GDP), which is the output of goods and services produced by labor and property located in the United States, increased at an annual rate of 3.5% in the first quarter of 2005, according to preliminary estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 3.8%. The major contributors to the increase in real GDP, in the first quarter were personal consumption expenditures, private inventory investment, exports, residential fixed investment, and equipment and software.

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Imports, which are subtracted from the calculation of GDP, increased.

8. Can you find predications on the future growth rate?

Future GDP growth will be almost entirely at the mercy of future gains of productivity. The productivity growth rate is not an easy number to forecast, partly because annual productivity gains fluctuate, falling now to 1%, rising now to 3%.

9. What is the income distribution?

The U.S. median family income is ~$40,000.

10. How has this changed over recent history?

We recently went though an economic boom where people prospered with huge gains, especially those with more money. This is not just Bill Gates. In 1997, over 144,000 tax returns were filed with adjusted gross incomes of $1 million or more......

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