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housing meltdown, the large U.S. budget deficit, inflation, unemployment and the devaluation of the U.S. dollar versus international currencies. Each of these factors has negatively affected Canadian and American GDP during 2008. Below is a detailed description of the impact that each factor has had on Aggregate demand and GDP leading to and during 2008. [13][14][15].
The U.S. invaded Iraq in 2003, since that time the U.S. government expenditures have skyrocketed. Recent estimate peg the U.S. government expenditures at an all inclusive rate of $7.1 Billion / month. Considering the war began in 2003 the total U...
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