AmericaTheEconomyCONTENTS1234IntroductionEconomicProfileStructureofEconomyPresentSituation1.IntroductionTheUnitedStateseconomy

hasbeenthe

largestandmostimportanteconomyinthe

world.TheU.S.economyalsomaintainsaveryhigh

levelofoutputpercapita.TheUnitedStatesishometo29.6million

smallbusinesses,30%theworld’s

millionaires,40%oftheworld’sbillionaires,

aswellas139ofworld’s500largest

companies.請輸入標題2.EconomicProfile●LargestdevelopedcountryGDP:

請輸入標題2.EconomicProfile●Reasons:?thevastterritoryandamplenaturalresources;?humanresourcesprovidedbyimmigrants;?immunityfromforeignaggression;?protectionismandisolationism;?nothamperedbyshacklesoftheoutmodedideasthatwerecommonplaceinastratifiedfeudalsociety請輸入標題3.EconomicStructure

?ThePrimaryIndustries請輸入標題3.EconomicStructure

?TheSecondaryIndustriesTheUnitedStatesisaleadingmanufacturingpowerintheworldwithayearlyindustrialoutputof$3,900,000million(2019).TheU.S.manufacturingishighlydiversifiedandtechnologicallyadvanced.Mainindustriesarepetroleum,steel,motorvehicles,aerospace,telecommunications,chemicals,electronics,foodprocessing,consumergoods,lumberandmining.Thetotalvalueofmanufacturingoutputranksfirstintheworld.Thetraditionalpillarindustriesaresteel-making,automobileandmilitaryindustries.Thetotalmanufacturingindustryemploysaboutone-sixthofAmerica’sworkersandproduces11%oftheannualGDP.請輸入標題3.EconomicStructure

?TheTertiaryIndustry請輸入標題4.EconomicProcessTheUnitedStatesmadeawarwindfallinbothworldwars,andduring1950s-early1970scomesintoagoldeneraofeconomicgrowth.Stagflationgotitsnameduringthe1973-1975

recession,therewerefive

quarterswhen

grossdomesticproduct

wasnegative.GDPGrowthQ1Q2Q3Q419731.2%4.6%-2.2%3.8%1974-3.3%1.1%-3.8%-1.6%1975-4.7%3.1%6.8%5.5%請輸入標題4.EconomicProcess●DeregulationandReaganomics:1976-1992?Deregulationgainedmomentuminthemid-1970s?Reaganomics:fiscallyexpansiveeconomicpolicies,cuttingmarginalfederalincometaxratesby25%?Inflationdroppeddramaticallyfrom13.5%annuallyin1980tojust3%annuallyin1983請輸入標題4.EconomicProcess●Theriseofglobalization:1990s-late2000s?asoaringstockmarketknownasthedot-comboom:realoutputincreased,inflationwasmanageableandunemploymentdroppedtobelow5%?2000,abubbleinstockvaluations?From2001-2007,thered-hothousingmarketacrosstheUnitedStatesfueledafalsesenseofsecurityregardingthestrengthoftheU.S.economy.4.PresentSituations●FinancialCrisisof2008The

financialcrisisof2007–2008,alsoknownasthe

globalfinancialcrisis

andthe

2008financialcrisis,isconsideredbymanyeconomiststohavebeentheworst

financialcrisis

sincethe

GreatDepression

ofthe1930s.4.PresentSituationsCauses:Theimmediatecause:theburstingoftheUShousingbubbleConsequences:Thecollapseofhousingpricesandtheshrinkageofconstructionsector;AseriesofthelargestbanksintheU.S.andEuropecollapsed;Thestockmarketplunged40%andhousingpricesfell20%;Thedistresswasspreadingbeyondthefinancialandhousingsectors:theautomobileindustry,theretailsector.4.PresentSituationsObama’sResponsesAmericanRecoveryandReinvestmentActof2009inFebruary2009theapproximatecostoftheeconomicstimuluspackage:$787billiontheARRA’srationale:theKeynesianeconomictheoryasubjectofdisagreement...4.PresentSituationsDonaldTrump’sResponsestradeprotectionism;immigrationreduction;individualandcorporatetaxreform;thedismantlingoftheDodd–FrankWallStreetReformandConsumerProtectionAct;therepealofthe

PatientProtectionandAffordableCareAct;