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APA
Subject:
Mathematics & Economics
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Coursework
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English (U.S.)
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Topic:

Consumer Confidence Survey and GDP. Mathematics & Economics Coursework

Coursework Instructions:

As you recently learned, the four components of GDP, or four sectors of the economy, are:
-Consumption
-Investment
-Government
-Net Exports
Throughout this chapter, you learned just how significant Consumption (consumerism) is in our economy. In fact, it drives about 70% of our economy! Since Consumption is such an important piece of our economy, many economic indicators are utilized to measure this sector. One such measure is the Consumer Confidence Survey. It is a survey given to consumers to measure how confident they are about the economy because higher confidence generally translates into future increased spending and lower confidence generally translates into future decreased spending.
Take a look at the current Consumer Confidence Data.
https://www(dot)conference-board(dot)org/data/consumerconfidence.cfm
As you can see, the most recent survey numbers are usually released the last Tuesday of the month.
Answer the following questions:
-What do the most recent numbers tell you?
-Were you surprised by anything? 
-Do you expect the numbers will increase or decrease before the next release?
GDP
The Bureau of Economic Analysis is the agency that tracks GDP. Please look at its most recent report:
https://www(dot)bea(dot)gov/data/gdp/gross-domestic-product
(again released the last week of each month).  Take a look at the first few paragraphs of the report to identify which sector(s) of the economy experienced growth.
Answer the following questions:
-Was the growth in Consumption spending, Investment spending, Government spending or Net Exports?
-Was the growth percentage about what you expected, or did you expect it to be higher or lower?  
In addition to reflecting on the above questions that I have presented, please share your thoughts to the following prompts.
-What do you think is the most significant factor or factors that have contributed to the United States being one of the richest countries in the world in terms of GDP?   
-Over time, do you think the United States will be able to maintain its economic position?  Why or why not?
-If you think the United States will be able to maintain its economic position, what types and/or fields of new innovations do you think will create the next wave of productivity growth?
-A Personal Perspective-"These Are the 5 Reasons Why the U.S. Remains the World's Only Superpower."
https://time(dot)com/3899972/us-superpower-status-military/?utm_source=zergnet.com&utm_medium=referral&utm_campaign=zergnet_556978
The author list reasons why "America is still the world's only superpower, and why that won't change anytime soon."
-If you think the United States will not be able to maintain its economic position, please state your rationale.
A Personal Perspective-"12 signs America is on the decline"
https://fortune(dot)com/2015/07/20/united-states-decline-statistics-economic/
The author states that "America is declining, in large and important measures, yet policymakers aren't paying attention.

Coursework Sample Content Preview:

Consumer Confidence Survey and GDP
Name
Institutional Affiliation
Consumer Confidence Survey and GDP
Consumer Confidence Data
Data from the Consumer Confidence Survey reveals a couple of deductions relative to consumer behavior. Consumption is quite low, which could be predicated on possible future inclinations. In the short-term, consumers are preferring are adept to prudent savings considering the level of uncertainty. The Present Situation Index, which decreased from 169.3 to 167.7 indicates that consumers are the way of their businesses and more so, possible downsizing in their workplaces (labor market conditions). This assertion is true as the number of unemployment claims in the United States has spiked lately. Consumers are concerned about overspending leaving them unable to cater to their needs in the long-term.
U.S. Weekly Initial Jobless Claims (thousands, seasonally adjusted) (United States Department of Labor, 2020).
The high level of unemployment is surprising highlighting possible circumstances for a recession. Chances are that consumer confidence numbers will continue to decrease because of the lockdown measures established by the rapid increase in COVID-19 cases in North America.
Gross Domestic Product
According to the Bureau of Economic Analysis (2019), the American economy witnessed a 2.1% GDP increase in the fourth quarter. This arose from “personal consumption expenditures (PCE), exports, residential fixed investment, federal government spending, and state and local government spending” (United States Department of Commerce, 2019). Considering the period in which this data was taken, various economic facets including the manufacturing sectors were functional and thus, such positive results were expected. I expected almost the same increase taking into account the long protracted trade war between China and the U.S. The previous quarter elicited the same figures in growth.
United States’ Global Economic Position
The U.S. is bound to maintain its standing as the world's economic superpower because of several factors that strengthen its position. First, it has an impressive growth rate, but more importantly, the quality of its economic prowess. In this regard, ...
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