An Analysis of Current Economic Situation in the US as Compared to Five Years Ago

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Analyze Current Economic Situation US Compared (5) Years Ago Name Institutional Affiliation: Analyze Current Economic Situation US Compared (5) Years Ago Current US economic situation compared to five (5) years ago (interest rates, inflation, and unemployment) The United State's economy is the largest across the globe and has an impact on every nation across the globe. In 2011, the Gross Domestic Product of this nation was approximated to be more that 15 trillion dollars. This is nearly a quarter of the world's Gross Domestic product. The United States has a mixed economy though the nation has managed to sustain an upward trend of its Gross Domestic product. The rate of unemployment in the United States can be said to be moderate as compared to other nations across the world. The US has also invested heavily in aspects such as research and this is a good thing. The United States has managed to sustain a steady economy since the late nineteen century. Immigrants across the globe have moved to the United States because of the nation's labor market. The rate of migration is also highest in the United States as compared to other nations in the world. Interest rates have largely affected the banking and real estate businesses. Interest rate can simply be defined as the price incurred when money is borrowed. Increase in interest rates makes borrowing an expensive affair and in turn killing the demand for loans and other related products and hence negatively impacting

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