TSO, UNU, UPU, WCL, WHO, WIPO, WMO,
WTO, ZC
Flag: thirteen equal horizontal stripes of red (top and bottom)
alternating with white; there is a blue rectangle in the upper
hoist-side corner bearing 50 small white five-pointed stars arranged
in nine offset horizontal rows of six stars (top and bottom)
alternating with rows of five stars; the 50 stars represent the 50
states, the 13 stripes represent the 13 original colonies; known as
Old Glory; the design and colors have been the basis for a number of
other flags including Chile, Liberia, Malaysia, and Puerto Rico
@United States:Economy
Overview: The US has the most powerful, diverse, and technologically
advanced economy in the world, with a per capita GDP of $25,850, the
largest among major industrial nations. The economy is market oriented
with most decisions made by private individuals and business firms and
with government purchases of goods and services made predominantly in
the marketplace. In 1989 the economy enjoyed its seventh successive
year of substantial growth, the longest in peacetime history. The
expansion featured moderation in wage and consumer price increases and
a steady reduction in unemployment to 5.2% of the labor force. In
1990, however, growth slowed to 1% because of a combination of
factors, such as the worldwide increase in interest rates, Iraq's
invasion of Kuwait in August, the subsequent spurt in oil prices, and
a general decline in business and consumer confidence. In 1991 output
fell by 0.6%, unemployment grew, and signs of recovery proved
premature. Growth picked up to 2.3% in 1992 and to 3.1% in 1993.
Unemployment, however, declined only gradually, the increase in GDP
being mainly attributable to gains in output per worker. The year 1994
witnessed a solid 4% gain in real output, a low inflation rate of
2.6%, and a drop in unemployment below 6%. The capture of both houses
of Congress by the Republicans in the elections of 8 November 1994
means substantial changes are likely in US economic policy, including
changes in the ways the US will address its major economic problems in
1995-96. These problems include inadequate investment in economic
infrastructure, rapidly rising medical costs of an aging population,
and sizable budget and trade deficits.
National product: GDP - purchasing power parity - $6.7384 trillion
(1994)
National product real growth rate: 4.1% (1994)
National product per cap
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