Term paper us economy

From a long-run perspective, new business formation is important because of the links between innovation, R&D, and new start-ups. New businesses are often formed to develop, implement, and market new technologies. To take one example, Kirchhoff et al. (2002) examines the link between university-based R&D activity and new business creation and finds that “university R&D expenditures are significantly related to new firm formations in the same [Local Market Area].” Thus delays in new business formation may mean delays in the development and adoption of new technologies, causing long-run damage to the economy. 7

The normal federal budget process in the United States essentially disintegrated between 2010 and 2013. Because Republicans controlled the House of Representatives while Democrats controlled the Senate, no agreement could be reached on annual budgets. Instead, government spending levels were set with “continuing resolutions”—extensions of levels dictated by the Budget Control Act (BCA) of 2011, legislation passed to resolve the debt ceiling crisis of the summer of 2011. The BCA mandated steep cuts in domestic discretionary spending, spending that must be appropriated each year and which largely excludes the expensive social insurance programs such as Social Security, Medicare, Medicaid, and the newly passed Affordable Care Act.

The sharing economy model of Uber has been replicated in other similar areas. Ride sharing economy gave birth to food and grocery delivery systems. Uber launched a food-ordering app called UberEATS which not only allows users to order food, but also enables users to register to be UberEATS drivers. Similar to Uber drivers, UberEATS drivers get paid for delivering food. [83] An example of grocery delivery in sharing economy is Instakart. It has the same business model as that of sharing economy based companies like Uber, Airbnb, or CanYa. [84] Instacart uses resources that are readily available, and the shoppers shop at existing grocery shops. The contract workers use their personal vehicles to deliver groceries to customers. Instacart manages to keep its cost low as it does not require any infrastructure to store goods. In addition to having contract workers, Instacart allows signing up to be a "personal shopper" for Instacart through its official web page. [85] [86]

Term paper us economy

term paper us economy


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