What IS the American economy all about? What do we do?

Question

In light of the economic slowdown, something made me realize something. What is our economy based on? What do we export? How do we make money? What makes us unique?

Answer 1

The largest US export is international travel (Purchases of services and goods by foreign travelers, including

expenditures for food, lodging, recreations, and gifts while in the U.S. are counted as U.S. exports).  After that, agricultural products are the largest export.

Answer 2

im more worried about when will it get better! and if the economy is so bad why does our goverment have money for so many unneccesary things!!! who is going to regulate the economy! when is enough, enough? and the way the goverment sees so many people are losing thier houses and just implement a plan to help just like that they can help with other things too like GAS and HEALTHCARE! and why not produce more money to circulate in the economy so things wont be so bleek and one dollar wont mean such a fight for everything!

Answer 3

Im afraid the government can't just make more money, look at the credit system for the true horror show, banks would rather have credit then real cash these days and why is it a suprise, money loaned is more valuable then money earned, because of people are paying more for oil equals a slight indifference in the price of money itself transportation is a normal common everyday living expense, I say the government needs to get off its war horse and realize it is already too late, and stop pouring money into iraq and improve our rails, concepts such as the maglev trains that can go over 300 mph, and out compete airlines in countries with them are something that might be a good situation, we need however to be afraid of possible monopolizing that will look to loot the market place.

In boston alone the big dig cost more then one of these maglev train systems and our traffic is no better, wtf are these people doing and I'm an ex con, maybe I was a political prisoner I don't even know anymore  I've never graduated college and I know one thing also the internet should be mined for the economy it hasn't already been put into the mix I ask why not? I know people make money on it but people need to start involving themselves heavily in digital security so that it can be used as a private marketplace this is severely under utilized and could be a great economy booster on the federal level.

Answer 4

fairly efficient government?? give me a break lol

Answer 5

The US is the largest exporting nation in the world, and exports are increasing, despite the slower output growth.

But consumer spending is the largest part of the economy, and people facing foreclosure and lower housing asset values are spending less. As they spend less, fewer workers are needed to supply the things to the consumers.

The US has one of the highest GDPs per capita. That means we produce more value per person than most nations. We are not number one in this category, but pretty high. That is how anyone, or any nation makes money; they provide more goods and services.

If there is something unique about the US it is probably diversity. We have pretty nice natural resources, large land area, well educated work force, very strong financial markets, and a stable, fairly efficient government.