Question

In these posts, you will gather data for the United States and for another country of your choosing. You are free to choose the country, but you are likely to gain greater understanding if you choose a country about which you have relatively little knowledge. You should, however, take care to select a country that will allow you to gather all of the needed information for the full set of assignments. [Here again, there are tradeoffs.] If others have posted ahead of you, please note the country that they have selected. Please try not to duplicate countries; the objective is as broad a set of information as possible. In this first installment, please do the following:

1. Gather output and income data for (1) the United State and (2) the country of your own choosing. Provide this number for the 3 most recent years available. For the US, you can begin with the Department of Commerce site, Bureau of Economic Analysis. For the country that you choose, you may want to start with the data provided by the United Nations. An alternative approach would be to search for data produced specifically by the government of the nation that you choose.
2. In particular, find data on (1) GDP; (2) Real GDP; (3) Real GDP per capita; and (4) the GDP deflator for both the US and your country. If the exact measure is not available for the country you choose, please explain what you have chosen as a substitute.
3. If you find a good information source, please provide it (and a link) as a part of your post. However, be sure if you provide a link that it is a reliable source. I would strongly urge you not to use Wikipedia, but to consult governmental sources, and institutions like the UN or the OECD, and similar organizations. Students who provide links to useful information sources can receive bonus points for their effort.
4. Post the data and information you find on the Discussion Board, under the Chapter 10 Discussion. Your post should include a discussion of what you find, rather than simply the numbers — you are expected to include a narrative about the data. Some explanation is needed, including a discussion of the economic situation in both the US and in your chosen country.

Answer 1

The US    Nominal GDP ( bn ) Real GDP ( bn )

2019	$21,429	$19,073
2018	$20.580	$18.638
2017	$19.519	$18.108

   Real GDP per capita GDP Deflator

2019 $58,422    113.043

2018 $57,366    110.767

2017 $56,238 107.973

Consistent increase in US GDP shows that the economy is witnessing one of the largest expansion which has helped the country increase its per capita GDP a very high level for a large country. GDP deflator shows that inflation rate has been under control.

India    GDP ( $ millions ) Real GDP ( INR Billion ) Real GDP per capita ( $ )    GDP deflator

2019    2800 35352 2300 134.8

2018    2718 33591 2104 129.7   

2017    2652 32320 1987 124.9

The Indian economy is growing at an average rate of above 6% in the last three years. Inflation as can be seen from GDP deflator has been moderate. Although GDP is increasing, it is still very low.

The government must find a way for quick expansion in the economy.