The Economic Crisis Of The United States

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Although the global economic crisis in 2008 occurred in many countries around the world, it was originally initiated by the United States of America. Being as though the United States is one of the world 's most hegemonies countries after its economy suffered from an immense downturn many smaller countries were affected, most specifically the Caribbean. Many countries within the Caribbean were affected greatly by the recession due to the fact that most of their gross domestic product comes from tourist dollars and taxes on those goods. One may ponder how the recession or global economic crisis in 2008 affected tourism in Caribbean countries, true scholars can infer that the recession in 2008 caused a decrease in aggregate spending in many countries that tourist resided in. Jamaica is a prime example of a Caribbean country that was affected by the global economic crisis of 2008. As a small underdeveloped Caribbean country Jamaica 's fiscal policy system can be viewed as fragile to some. With tourism bringing in the most revenue for the country the decline in economic activity which ultimately led to the economic crisis of 2008, affected the Jamaican economy to a noticeable extent. This study will expound upon the effects of the global crisis in 2008 had on Jamaica as a case study. Aggregate output, trade, real GDP are aspects that serve as focal research points to this study. The history of tourism in Jamaica is imperative in this study due to the fact that it sets a

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