Us Economy 2024 Flashcards
(18 cards)
GDP
2.8% whuch was less than the G7 (Canada, France, Italy, Germany, Japan, UK and US).
Chinas gdp was 4.8% and indias was 7% both greater than the US
Us population
350M
The no.of undocumented immigrants
was 10-12 million
Which means the US have a lack of power and influence
A strong economy
Will take in immigrants who will fuel economic growth
Opposite holds immigrants nit being welcomed suggests the economy doesnt demand them
The weak US economy cant absorb them which indicates no prospects of future growth
An increase in worker militancy suggests
Wages and contracts are poor which suggests prices are rising above wages
Why are the workers angry
Due to an increase in inflation or falling jobs
The removal of health insurance suggests firms are struggling with costs
Govt spending $bns on aid
And not guaranteed a return
$bns went to aid
Ukraine in the war against Russia, who gained land and territory off of Ukraine
The opportunity cost of this spend is areas such as education, healthcare and infrastructure have lost out
Who is now apart of Brics (Brazil Russia India China)
Saudi
Saudi being in the brics
Is having an alliance with China which causes a decline in the G7
Bidens increase on tariffs on electric vehicles of
100% from china which indicates the US transition from gas to ev has been slow
This forces US citizens to buy
Ford x tesla
What do tariffs do
Protect the jobs of US workers at the expense of quality
Competitiors can purchase at a cheaper rate
Which keeps costs competitive
An increase in US costs and removing competitive advantage
Which protects profits for US firms not just Us jobs in thr long run
Inflation
2.9%
Unemployment
4.2%
BOP
$1.13 trillion (deficit)
This increase was driven by an large deficit on goods as well as the shifgbin the balances on primary income from a surplus to a deficit
