Economic Numbers

Economic Health memorandum EOC/212 May 9, 2011 Economic Memo Gross domestic Product is the awayicial measure use in the linked States to measure the total come pose out of the closetput of goods and services within the joined States economy. The GDP measures the output off all labor and detonator within the linked States. This data is collected monthly, quarterly and per annum by government agencies, companies and firms and then(prenominal) compiled into hundreds of statistics (Anderson, para. 2-7). These statistics involve the consumer charge great power (CPI), the employment report, and summaries of corporate and psyche tax returns (Anderson para. 2-7). The wholeed States discussion section of Commerce then compiles this source data into a recognise set of statistics know as the National Income and Product Accounts ( Anderson, para. 2-7). This fiber of double-entry accounting provides a consistent and detailed representation of payoff in the linked States (GDP) and its associated income (Anderson, para.

 2-7) The GDP replaces gross national result as the master(prenominal) measure of production but is by no center an easy feat to keep consummate and current. Because our economy continues to grow the conceptual and statistical work is never fully completed. United States when determining fiscal policies differ among our congressional members and the President of the United States. carnal knowledge a nd the President carry out fiscal policy thr! ough changes in government purchases and taxes (Hubbard & angstrom unit; OBrien, 2010). Because changes in government purchases and taxes lead to changes in the blend demand, they can affect the level of real GDP, employment and toll levels. The roles that our government bodies play here in the President and social intercourse can make these changes to achieve macroeconomics. Once changes have been do to the fiscal policy the Department of Treasury construes, manages and implements...

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