GDP in the world
By: Liberty Schuelka
GDP Expanded at 4.2% Rate in Second Quarter
Corporate profits surged last quarter while the U.S. economy posted robust growth, putting the economic expansion back on steady footing headed into its sixth year.Gross domestic product grew at a seasonal adjusted annual rate of 4.2% in the second quarter after accounting for inflation. U.S. banks reported near-record profits in the second quarter. Profits hit a record 10.7% of GDP in the third quarter of 2013, slipping to 10.5% in the fourth quarter and 10.2% in the first quarter. They totaled 10.6% of GDP in the second quarter. The worst recession since the Great Depression ended in June 2009, but the recovery has been slow and halting.
This article talked about how in the past four months the oil prices have dropped 30%. The low prices could deter investment in production, which will eventually hurt the supply. with the low oil prices could help oil importing countries and their economy. Also that can lead to an increase in demand for the oil. This relates to our class because we talked about if the prices drop people will buy it and the supply will drop.
Textbook prices are rising
This article is about how college textbook prices have been rising very quickly in the past decade. The price of textbooks is so high is because students that buy the textbooks first and only use them for a semester, for example, will sell their book right away to a new student who needs it. This causes a problem for the publishing companies because they are not selling nearly as many textbooks as they used to so they have to raise the price to cover their costs of producing the books. This article has to do with Economics because a textbook is considered a good/service.
The article is telling us that the US national unemployment has dropped to 5.8%. This is a good because the article also states that we have created 2.3 million jobs this year and that we will create more jobs and the unemployment will drop even farther. Which will obviously be very good for our economy, gaining all these jobs. So hopefully things can sort themselves out by the end of 2014 and maybe drop below 5.5% now .3% sounds like a lot to drop but it fell from above 6% to 5.8% in 1 month.
People hating Obamas choices for the economy
There are many Americans that not impressed with Obamas economy right now. Seven in every ten voters are concerned with the economic conditions right now. The economy is actually doing pretty good if you look at the data taken on GDP and the unemployment rate. American is doing much better then six years ago. Most people don't care about any of that though. Most Americans are looking at their own financial situations and they aren't much better. Overall the American economy has improved Economic expansion, Jobs, Unemployment rate, Paltry rates, and average weekly earnings. Still some are unhappy with the way Obamas economy is going. Connection to class- This has an obvious connection to class because we have talked about about economies. This article is showing how some positives and negatives todays economy.