MACRO - ECONOMIC WILL

POVERTY
REDUCE
OR
INCREASE
INDICATORS ?

HOW COVID-19
EFFECTED USA ?

UNITED STATES
22 JANUARY ,2022
NATIONAL
INCOME
 U.S. GNI FOR 2017
U.S. GNI FOR 2016
WAS $19,332.40B, A
WAS $18,503.59B, A
4.48% INCREASE
1.67% INCREASE
FROM 2016
FROM 2015.

GNI (formerly GNP) is the sum of value added by

all resident producers plus any product taxes (less
subsidies) not included in the valuation of output
plus net receipts of primary income (compensation
of employees and property income) from abroad.
Data are in current U.S. dollars. GNI, calculated in
national currency, is usually converted to U.S.
dollars at official exchange rates for comparisons
across economies, although an alternative rate is
used when the official exchange rate is judged to
diverge by an exceptionally large margin from the
rate actually applied in international transactions.
To smooth fluctuations in prices and exchange
rates, a special Atlas method of conversion is used
by the World Bank. This applies a conversion
factor that averages the exchange rate for a given
year and the two preceding years, adjusted for
differences in rates of inflation between the
country, and through 2000, the G-5 countries
(France, Germany, Japan, the United Kingdom,
and the United States). From 2001, these countries
include the Euro area, Japan, the United Kingdom,
and the United States.
By Shreshth Bhandari (21025)

U.S. GNI FOR 2018 U.S. GNI FOR 2019

WAS $20,758.60B, A WAS $21,640.51B, A
7.38% INCREASE 4.25% INCREASE
FROM 2017. FROM 2018.

What Is the Current THE CALCULATION OF

THE PER CAPITA

U.S. Income Per

INCOME INCLUDES
THREE DIFFERENT
COMPONENTS.

Capita?
The 2019 real median income per FIRST, THE CENSUS FIGURE
INCLUDES EARNED INCOME—
capita was $35,977.1 Because there INCLUDING WAGES,
SALARIES, AND ANY SELF-
are quite a few extremely wealthy EMPLOYMENT INCOME. IT
DOES NOT INCLUDE
individuals in America, the mean is BORROWED MONEY,
WITHDRAWALS OF BANK
much higher. In 2019, the mean DEPOSITS, TAX REFUNDS,
GIFTS, AND LUMP-SUM
income per capita was $54,129.2 The INHERITANCES OR
INSURANCE PAYMENTS.
Census Bureau reports the income per
capita in the Current Population
Survey.
SECOND, THE CENSUS
The real median income removes the INCLUDES INVESTMENT
INCOME INCLUDING
effect of inflation. It's the only INTEREST, DIVIDENDS,
RENTALS, ROYALTIES, AND
accurate way to compare statistics INCOME FROM ESTATES AND
TRUSTS. CAPITAL GAINS
from year to year. AND MONEY RECEIVED FOR
SELLING YOUR HOME ARE
NOT INCLUDED.

FINALLY, IT INCLUDES
GOVERNMENT TRANSFER
PAYMENTS. THAT INCLUDES
SOCIAL SECURITY OR
RAILROAD RETIREMENT,
SUPPLEMENTAL SECURITY
INCOME, PUBLIC ASSISTANCE
OR WELFARE, AND
RETIREMENT, SURVIVOR, OR
DISABILITY PENSIONS. IT DOES
NOT INCLUDE FOOD STAMPS,
PUBLIC HOUSING SUBSIDIES,
OR MEDICAL CARE.

BY SHRESHTH BHANDARI (21025)

 INFLATION OF UNITED STATES

INFLATION IN THE UNITED STATES

REACHED 6.8% IN 2021, THE HIGHEST LEVEL
SINCE 1982. AFTER CLIMBING 0.9 PERCENT
IN OCTOBER, THE CONSUMER PRICE INDEX
FOR ALL URBAN CONSUMERS (CPI-U)
INCREASED BY 0.8 PERCENT IN NOVEMBER.
IN NOVEMBER, GASOLINE PRICES
INCREASED BY 58.1 PERCENT, THE HIGHEST
12-MONTH INCREASE SINCE 1980.
FOR THE THIRD MONTH IN A ROW,
GROCERY STORE PRICES ROSE ACROSS THE
BOARD IN THE FOOD INDEX. IN NOVEMBER,
PRICES FOR MEAT, POULTRY, FISH, AND
EGGS INCREASED BY 0.9 PERCENT, WHILE
CEREALS AND BAKERY PRODUCTS
INCREASED BY 0.8 PERCENT.

AFTER A 0.6 PERCENT GAIN IN OCTOBER, THE

PRICE INDEX THAT EXCLUDES FOOD AND
ENERGY ROSE 0.5 PERCENT IN NOVEMBER. LAST
MONTH, THE COST OF USED AND NEW CARS, AS VALUE
WELL AS HOUSEHOLD GOODS, CLOTHING, AND OF
PLANE TICKETS, INCREASED SIGNIFICANTLY.
MONEY
THE RATE OF INFLATION HAS QUICKENED
HOWEVER FOR SHELTER (4.1% VS 3.8%); FOOD
(6.3% VS 6.1%), NAMELY FOOD AT HOME (6.5%
VS 6.4%); NEW VEHICLES (11.8% VS 11.1%); USED
CARS AND TRUCKS (37.3% VS 31.4%); APPAREL
(5.8% VS 5%); AND MEDICAL CARE SERVICES
(2.5% VS 2.1%).A

PRICE RICES

BY MESHWA MISTRI ( 21118 )

 WHAT IS
IMPACT OF
INFLATION?
on United Status
The most evident effect is that when
Americans go to the supermarket, invest in a
house or car, or pay their medical bills, they
are seeing greater prices.
Wages are not maintaining pace with
inflation, despite the fact that industries
recovering from substantial pandemic losses,
like as hospitality, are witnessing wage
increases that are keeping up with inflation.
Inflation can also have a significant political
impact, as people often blame the ruling party
for rising prices. Republicans have been quick
to accuse Joe Biden for inflation, accusing him
of misusing federal funds.
In October, Senate minority leader Mitch
McConnell told reporters, "It's a direct
outcome of flooding the country with money."
Democrats have gone on the defence,
claiming that Federal Reserve experts believe
the inflation will be temporary and that
pandemic help was important for Americans'
health and well-being during a crisis.
"We're making strides toward recovery." "Jobs
are up, salaries are up, property prices are up,
personal debt is down, and unemployment is
down," Biden stated the day inflation figures
for October were revealed. "Without a doubt,
the economy is continuing to improve and is in
far better health now than it was a year ago."

BY MESHWA MISTRI ( 21118 )