Gross Domestic Product and Welfare - Essay Example

Only on StudentShare

Extract of sample
Gross Domestic Product and Welfare

Since the land areas of these countries are almost the same, their GDP can be explained by the other factors of production, the economic policies being implemented, the political situation, and the overall economic atmosphere.
For all the years considered, it should be noted that the United State leads in terms of GDP. US has always been regarded as one of the largest and strongest economies in the whole world with its highly developed industries. The country boasts of its advancement in technologic especially in the fields of information technology, medicine, aerospace, and military equipment (United States 2007). Currently, the economy is still the largest and most powerful in the world with a GDP of $12.98 trillion. During years under consideration, US report the largest amount of GDP albeit at a decreasing rate. The economy had experienced the drawbacks of financial crisis in the late 1990s. In 2001, the 9-11 terrorist attack also led to an economic slowdown. Later in 2003, the country transfers huge amount of resources to finance its war against Iraq (Economy of United States 2007).
Canada, like the United States is one of the most developed and stable economies in the world. ...
Download paper

Summary

The following figure shows the reported Gross Domestic Product of three countries Canada, China, and United States during the years 1994, 1999, and 2005. The data are sourced from the International Monetary Fund World Economic Outlook Database. All the GDP are in US$ billion and in current prices.
Author : mcassin

Related Essays

Love- Beneficiaries of U.S. Welfare Programs
The federally funded U.S programs began in the 1930’s during the great Depression. The united state Government responded the overwhelming families in need of aid by creating a welfare program to provide assistance to those who have little or no income. The eligibility for a Welfare Program depends on numerous factors. These factors are gross and net income, size of the family, any crisis situation such as medical emergencies, pregnancy, homelessness or unemployment. The programs which are managed by U.S. Government are primary and secondary education, subsidized college education,...
3 pages (753 words) Research Paper
American Welfare
a) Political culture Welfare culture explains behavioral consequences through the provision of poverty relief to those who earn low income. After the postwar period, the prevailing clarification for distinct features of the American welfare state reposed on the impact of the political culture of the American public rule (University 36-109). In this view, there are cultures who are comfortable with allocating responsibilities regarding the needs of social welfare to the central political authorities while others prefer families, local community organizations or the market to maintain switch....
4 pages (1004 words) Essay
State and Social Welfare
As the report stresses the historiography of the UK welfare system can be rewritten by varying but subsequent phases of social control dependent upon the different magnitude of political and economic power of the state and voluntary sector: legitimisation – mobilisation – cooptation – Integration. ...
11 pages (2761 words) Essay
Gross Domestic Product Master Essay
The following table shows the nominal and real GDP of UK from 1948-2005 expressed in terms of country's domestic currency....
6 pages (1506 words) Essay
Social Welfare
The researcher of this essay aims to find an answer to question: What is ‘happiness’? Clearly, it is stated that “Happiness, pleasure or joy is the emotional state of being happy,” according to Wikipedia. However, this essay mentiones that the definition of happiness is one of the greatest and controversial philosophical quandaries in history. Proposed definitions include freedom from want and distress, consciousness of the good order of things, assurance of one's place in the universe or society, inner peace, and so forth. Using a country’s Gross Domestic Product, or GDP, as a...
4 pages (1004 words) Essay
an agenda for social welfare: domestic violence
Transition housing is a residency program, which includes support services provided following a crisis or homelessness. It is designed as a bridge to permanent and self-sufficiency housing. Occupants usually remain in duration of six months to two years, but are required to set goals to put more effort towards a stable economy. However, boundaries differentiating the steps in transitional housing are sometimes unclear. For example, emergency shelter is given on a short-term condition that is, not more than three months, aimed at assisting residents who search housing and contacting referrals...
7 pages (1757 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!