1、 https:/crsreports.congress.gov Updated January 13, 2022Introduction to U.S. Economy: GDP and Economic GrowthAs a result of the COVID-19 pandemic, economic activity declined rapidly in the United States in early 2020 before rebounding and surpassing pre-pandemic levels in the second quarter of 2021.
2、 The speed of the economic recovery and projections of longer-term growth are of concern to policymakers due to the connection between the economys performance and the overall well-being of Americans. This In Focus provides an introduction to the U.S. economy, including how economists measure its pe
3、rformance and the factors that influence its long-run trajectory. What Is Economic Activity? Economic activity includes any actions involved in the production, distribution, and consumption of goods and services. Figure 1. Circular Flow of Resources Source: Figure created by CRS. Notes: This is a si
4、mplified representation of the economy. Other sectorsincluding the government, financial sector, and imports and exportscan also be represented as flows within the economy. Economists generally view economic activity as a circular flow of resources. As shown in Figure 1, businesses purchase their fa
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