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Running head: The US GDP 1
The US GDP
Student’s Name
Institution
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The US GDP 2
Establishing the Correlation Between the US GDP and by Various Elements Including Inflation
Rate, Unemployment Rate, and Trade
I have several reasons as to why I chose quantitative research, literature review and peer
review when establishing the correlation between the US GDP and by various elements
including inflation rate, unemployment rate, and trade. For starters, quantitative research will be
useful when securing numbers to describe the frequency or extent of the presence of variables.
Since GDP is all about numbers, quantitative tools will be of great use when doing the statistics.
The same applies to employment and inflation rates. The quantitative research will help
determine how these rates affect the growth domestic product. Literature will also be relevant in
my review as it provides information. Looking at the research conducted on GDP and the
elements that affect it, the literature review will inform the context of the study and indeed may
give insight into the historical exploration of the topic and some understanding of the academic
credibility of the work (Kiteley & Stogdon, 2014). Peer review is considered the highest and
most rigorous form of editorial review in determining the publication merits of papers chapters
and books. The scope of peers to be used in the research will entail classmates as well as
lecturers in the department. Through a similar approach, it will not only create an appropriate
platform for a second opinion but also assess the method used in the research on whether it
coincides with the set objectives.
The current expansion appears to be getting a second wind in the US. On the opposite
side, the growth rates of GDP and productivity are accelerating, the unemployment rates
continue to fall, and the budget surplus continues to grow as a fraction of the GDP (Meade,
2015). On the side of concerns, the inflation rate is moving up a little, and the trade deficit is now
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The US GDP 3
running more than 4% of the GDP. The following charts indicate the unemployment rate,
inflation rate, and the GDP.
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