Economic Growth in the USA
This article from the New York Times talks about how economic growth has increased in the United States of America. It went up from 3.5%, a whole 1.5% higher than the first quarter. Economists predict that the Economic Growth in the USA will keep increasing at a constant 2% for the next 2 years. But for USA to recover from the recession, it needs a 4% per year increase. One economist shared that people are talking about there being a second recession, so for the time being a 2% increase is a very good start for the USA. The real income has increased, and the people who are applying for unemployement benefits has decreased, boosting the countries economy forward. This article relates to our class because we are talking about unemployment right now and what a country can/should do to decrease unemployment. Also I was looking over some notes from last year and I was just reviewing economic growth vs economic development, so it ties in perfectly with what I have been going over. Also this article is a perfect real-world example of what we learn in IB economics, specifically unemployment, real income, economic growth, etc.
http://www.nytimes.com/2011/10/28/business/economy/us-economy-shows-modest-growth.html