Assessment of Historical Growth in the US Economy Essay

Assessment of Historical reaping in the US Economy - Essay ExampleThe Constant dollar GDP is also cognise as the Real GDP represents the quantity of economic output. Real GDP is always used in mensuration the overall rate at which an economy is grown. The current dollar GDP represents the market value of goods and operate produced in a period in a country.In order to solve our question of whether the regular army is enjoying the longest continuous expansion of its economy since modern records began the best solution is to retrieve the GDP figures of the US economy over a period up to which the records are available. And compare them to check for the trend of the addition in the US economy expressed through the GDP figures. Usually such kinds of economic info can be obtained from the website of Bureau of Economic Analysis. (BEA)An analysis of the US GDP is expressed in arrange dollars in the BEA Website for the period from 1929 to 2006 last quarter. An analysis of the historic al GDP figures indicate that the US economy has been ceaselessly showing an increasing trend only except for some eld where it shows a negative trend. peculiarly in the categorys where there were recessions of the economy the GDP has been infinitely growing.From the following map it can be detect that the growth of the US economy suffered slightly during the years 1974, 1982 and 1991. These are the known periods of recession where the US economy was recoding a negative growth of -0.51 percent, -1.97percetn, and -0.17percent respectively which are very negligible. Apart from these gloomy deviations in the near past the US economy has been continuously doing well. The observed data is also produced under to show that in the real values also the GDP of the US economy is growing continuously except for intermittent reversals to negative figures. These negative figures are not significant except for certain years like 1932 and 1946 where the negative growth is showing high figur es -14.94 percent in 1932 and -12.39 in the year 1946.Chart screening the Growth in the US EconomyFrom the chart it may also be observed that there has been continuous positive growth in the US GDP figures during the longest spell of year 1992 to year 2006. Thus by examining the growth of the GDP of United States over a period, the statement that The ground forces is enjoying today the longest continuous expansion of its economy since modern records began can be proved.Table Showing the US GDP figures over the yearsYearGDP chainYearGDP Chained