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Free «The Growth Domestic Product» Essay Sample

The Growth Domestic Product (GDP) refers to the total of all commodities produced in a country in one year. The value of GDP per capita in Brazil is 19450.83 Brazilian real. The GDP value is based on the favorable market that includes all the commodities produced by that country. The value of GDP per capita in U.S is 14.12 trillion dollars per capita. This shows that the GDP value in the U.S is high due to its population compared to that of Brazil. U.S imports are more than those of Brazil and are able to standardize their politics and economy.

This value of GDP in Brazil shows that, the country is increasing its imports and other services. The country is able to generate more income thus increasing the value of GDP this will enable it to reduce poverty rates, increase health facilities, create more job opportunity and increase their remunerations.  It makes their standard of living be high. The GDP is also used to estimate the standard of living in a country. If its value goes up, the standard of living goes up and vice versa (World Bank, 2009).

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Inflation is the rise of the supply of a currency to the availability of commodities, resulting to higher prices and a decrease in the purchasing power of money. The inflation rate in Brazil is at 6.0%. The inflation rate is at that figure because the interest rate and the prices of goods are high. The rate of inflation in the U.S is 2.10%. This shows that, the U.S has a lower inflation rate. It shows the country maintains its stability compared to that of Brazil.

Economic growth is the value of commodities produced by a country. The Brazilian economy growth is at the rate of 7.5%. This was an increase from the previous year. The increased economy growth is due to, their success in agriculture and energy sectors which are doing very well. The government has reduced subsidies and the farm prices have also decreased. The country has a favorable trade that encourages high prices of commodities. This increases their industrial exports (Brainard L and Martinez-Diaz L 2009).

   

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