Essay on "Economics in the USA"
Essay 4 pages (1457 words) Sources: 3 Style: MLA
[EXCERPT] . . . .
Economics in the U.S.A. -- The Gambling IndustryIndustry Overview
The bases of the gambling industry were set by the former mafia clans, during a time in which the United States authorities were militating for a decent life style and a religious focus. It was probably the simple interdiction of gambling activities that made them so appealing and popular with the public. As they became legal, the mafia lost interest in them and sold most of the casinos in Las Vegas. Today, the gambling industry is not only legit as any other industry, but it has come to generate million dollar revenues each year.
More specific information on the American gambling industry sees that its growth has been due to increases in the population's living standards. The successful outcome of any casino in the United States is directly linked to its ability to conduct efficient operations as well as develop and implement the most suitable marketing strategies. The large players benefit from increased financial and technological resources to sustain revenues and the small size players succeed by addressing local markets. The average income for an employee in the industry is of$90,000 per year. 2008 was market by a 7% increase in the industry's operations and revenues, but 2009 reveals pessimistic results due to the internationalized economic crisis. However, a one percent growth is still expected. The growth rate is expected to gradually increase and measure 7% by 2011, but it then foreseen that during 2012 it will only be of 5%, to then increase once again throughout 1013 at 6% (Hoovers, 2009).
2. Economic Indicators and their Impact on the Gambling Industry<
download full paper ⤓
Economic indicators include a series of statistical information used by specialized economists to review the performances of a given economy, industry or sector. Aside assessment, economic indicators also allow for the making of future estimations. The most relevant economic indicators to be mentioned in the analysis of the gambling industry are the gross domestic product, the unemployment rate, the inflation rate (or the consumer price index), personal income, interest rate and finally, the PPI, or the producer price index.
2.1 Gross domestic product
The GDP is defined as the totality of products and services produced or delivered within one country during the course of one year. The products and services are understood in terms of their monetary value and the GDP is "equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports" (Investor Words, 2009).
The gross domestic product within the United States has followed an ascendant trend for the past decades:
Source: The Financial Forecast Center, 2009
Foremost, despite the financial crisis in the contemporaneous community, the American GDP is expected to maintain its ascendant trend in the future. The biggest increase is expected to occur in November 2009.
* The charts are constructed on estimative forecasts from the Center for Financial Forecast
An analysis of the gross domestic product in most of the American industries will only manage to reveal font modifications. However, in terms of the gambling industry, modifications in the GDP are directly linked to the evolution of gambling. In this order of ideas, increasing GDP means that more services and products were delivered in the United States and that the incomes of the individual customers increased. This in turn means that the customers have increasing purchasing powers and that they are more likely to contract the services of gambling organizations. On the other hand, a decreasing GDP means that the population is less able to purchase gambling services and that the revenues of these institutions are likely to decrease.
2.2 Unemployment rate
In defining the unemployment rate it is necessary to distinguish between the individuals in one country. To better understand, the labor force is made up from individuals who work and those who do not work, but are looking for jobs and are willing to work. The unemployment rate is the numeric representation of the category of individuals who do not currently work but are looking for jobs. The category of individuals who are able to work -- but who do not work neither look for a job -- is not included in the unemployment rate. Sadly enough, the unemployment rate within the United States has increased during the past few months as a direct result of the economic crisis. It is… READ MORE
Quoted Instructions for "Economics in the USA" Assignment:
“Select an industry that does business in the United States and likely to be impacted by macroeconomic changes in the economy. Examples would be the auto industry, housing industry, appliance industry, steel industry, wireless phone industry and the retail industry. You are not limited to these examples.
Give a brief overview of your selected industry.
Define economic indicators in general terms. Then define each of the following economic indicators: Gross Domestic Product, Unemployment Rate, Inflation Rate (CPI), Personal Income, Interest Rates, and the Producer Price Index.
Provide a graph showing a trend line for each indicator over the last few months or years.
Provide a graph showing an 18 month forecast for each indicator. Each forecast should begin with the current quarter and projected out 18 months. Your sources of the forecast should be specific.
Describe how your selected industry would be affected by changes in each of the economic indicators
How to Reference "Economics in the USA" Essay in a Bibliography
“Economics in the USA.” A1-TermPaper.com, 2009, https://www.a1-termpaper.com/topics/essay/economics-us/420884. Accessed 29 Jun 2024.
Related Essays:
Economic Analysis the United States Term Paper
Economic Analysis
The United States is the country with the world's largest Gross Domestic Product, which was estimated to be $13.22 trillion dollars in 2006. The United States economy is… read more
Term Paper 5 pages (1318 words) Sources: 4 Style: APA Topic: Economics / Finance / Banking
US Financial System Term Paper
USA Financial System
financial system is one of the most complex systems in the world. There are several environmental factors which have an impact on the U.S. financial system such… read more
Term Paper 3 pages (1007 words) Sources: 3 Topic: Economics / Finance / Banking
United States Trade United States' International Term Paper
United States Trade
United States' international trade in goods and services for the month of October 2007 reported a $57.8 billion deficit. The deficit emerged due to the $141.7 billion… read more
Term Paper 2 pages (507 words) Sources: 1 Topic: Economics / Finance / Banking
Slow USA Econ Recovery Chapter IV Term Paper
Slow USA Econ Recovery
Chapter IV -- Summary
Chapter V -- Recommendations
There has always been a disharmony between economic theory and economic reality as it relates to the actions… read more
Term Paper 20 pages (5194 words) Sources: 20 Topic: Economics / Finance / Banking
Problem's Facing the U Term Paper
United States: Before the Fall
It is fairly apparent that there are a wide variety of political, social, and economic problems troubling the United States today that appear to herald… read more
Term Paper 3 pages (977 words) Sources: 3 Topic: Economics / Finance / Banking
Sat, Jun 29, 2024
If you don't see the paper you need, we will write it for you!
We can write a new, 100% unique paper!