18.57 trillion USD
Hereof, what was the GDP in 2012?
In the third quarter, current-dollar GDP increased 5.9 percent, or $225.4 billion. 2012 GDP Real GDP increased 2.2 percent in 2012 (that is, from the 2011 annual level to the 2012 annual level), compared with an increase of 1.8 percent in 2011.
What is the average GDP in America?
The GDP per Capita in the United States is equivalent to 413 percent of the world's average. GDP per capita in the United States averaged 34922.23 USD from 1960 until 2016, reaching an all time high of 52194.90 USD in 2016 and a record low of 17036.90 USD in 1960.
The economy of the United States is divided into three broad categories including the service sector, the manufacturing sector, and the agricultural sector.
- Finance and Insurance.
- Health and Social Care.
- Durable Manufacturing.
- Retail Trade.
- Wholesale Trade.
- Nondurable Manufacturing.
- Federal Government.
A Mixed Economy-The Us System. The economic system of the United States is principally one of private ownership. This system, often referred to as a "free enterprise system," can be contrasted with a socialist economic system, which depends heavily on government planning and public ownership of the means of production.
Economic Systems. There are many different types of economic systems used throughout the world. Some examples are socialism, communism, and capitalism. The United States has a capitalistic system.
This system is also referred to as "pure capitalism" or "laissez-faire capitalism." Conversely, a mixed economic system has elements of both free markets and centrally planned economic controls by the government. There are several different ways market economies are changed in a mixed economy.
An economic system in which both the private enterprise and a degree of state monopoly (usually in public services, defense, infrastructure, and basic industries) coexist. All modern economies are mixed where the means of production are shared between the private and public sectors. Also called dual economy.
Countries with a mixed economy include Iceland, Sweden, France, the United Kingdom, the United States, Russia and China. These countries have a mix of government spending and free-market systems based on the share of government spending as a percentage of gross domestic product.
In a command economy, also known as a planned economy, the government largely determines what is produced and in what amounts. In a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed.
Most economies are considered mixed because most have some portion of the means of production under government control. Most economic systems also have some element of the market or capitalism. The most vulnerable members of society benefit from a mixed economy because they are offered some social safety net.
In a command economy an authority such as the government, governmental agency, or central planners decide what to produce, how to produce and to whom goods and services will be allocated.
|What type of government does Japan have?||Constitutional monarchy|
|What type of economy does North Korea have?||Command economy|
|What countries economic reforms have led to excellent growth?||China|
|What country has a few natural resources but remains strong?||Japan|
Iran: Command Economy! Ali Mazroi, reformist politician & blogger, says Iranian economy is a command economy where government controls 80% of it. Blogger adds according to statistics 20 percent of Iranian households receives 48% of national income (Persian).
The term implies that the “less developed” or “developing” countries are still stuck in past ages. This is not true because even the so called 'least developed' countries are not in the stone or bronze age, or even the Middle ages. So based on that, Iran is a developing country.
Ayatollah Ali Khamenei, Iran's supreme leader, controls a financial empire worth an estimated US$95 billion (£60 billion) - far greater than the wealth accumulated by the late shah, the deposed pro-Western monarch.
Naturally, oil and natural gas are Iran's most important exports along with other exports including chemicals, plastics and fruits. Iran mainly exports to Taiwan, China, Turkey, South Korea and India. Iran's main imports are machinery, cereals, iron and steel, and chemicals.
Iran's complex and unusual political system combines elements of a modern Islamic theocracy with democracy. A network of elected and unelected institutions influence each other in the government's power structure.
The former Crown Prince of Iran, Reza Pahlavi, himself does not advocate the restoration of his dynasty, instead stating that the matter is for Iranians themselves to decide in a national referendum whether or not to restore the constitutional monarchy with the restoration of the House of Pahlavi.
At the top of Iran's power structure is the Supreme Leader, Ayatollah Ali Khamenei, who succeeded Ayatollah Ruhollah Khomeini, the father of the Iranian Revolution, upon Khomeini's death in 1989. Khomeini and Khamenei are the only two men to have held the office since the founding of the Islamic Republic in 1979.