In todayÃÂs society people have an unlimited amount of needs and wants, and limited resources to fulfill these needs and wants. Economics could be considered as a source of control, tries to distribute resources to capitalize on the satisfaction of those needs and wants through use of minimum resources. Economic indicators help the society to evaluate how well the economy is doing: a way of measuring how well the economy is doing and predict how it may perform in the future (Kadioglu, 2004). In this paper the team will define the gross domestic product (GDP), the unemployment rate, the inflation rate as measured by the consumer price index (CPI), auto sales, along with the S&P 500, which were used in a previous economic paper. In addition, a brief description will be given on its current status.
The Gross Domestic ProductSo, what drives the economy? The GDP means the market value of final goods and services produced within the economy.
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World map showing countries by nominal GDP per cap...
GDP (PPP) Per Capita based on 2008 estimates http:...The price of goods and services produced during a particular time interval are the most important measurement of growth. In the real world, it is not enough to have demand for goods: one must have the means to accommodate people's desires (Shostak, 2001). According to WebQuest (2004), the current status of the GDP in the United States (US) has the largest and most technologically powerful economy in the world, with a per capita GDP of $43,500. The US has advanced technology, in the areas of computers, medical, aerospace, and military equipment, which has tapered since the end of World War II. The response of the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. The war in March through April 2003 has led a coalition between the US and Iraq, the subsequent occupation of Iraq,