Jason Finney has served as a credit analyst with RJ O’Brien and Associates in Chicago since 2018. Shortly before completing his BA in economics and German at the University of Michigan, Jason Finney performed macroeconomic data analysis as an intern with the German Institute for Economic Research.
Macroeconomics is a field of economics that deals with the behavior of large-scale economic systems, including various elements of national productivity such as gross domestic product (GDP) and national income.
GDP can be defined as a nation's overall mark value based on all goods and services produced within its borders. When combined with overall data points, such as national income, GDP can provide a broad overview of national productivity and economic health. In 2021, America's GDP approached $23 trillion. In the third quarter of 2022, the US GDP increased by 2.6 percent, compared to a 0.6 percent decrease in the prior quarter. The GDP has increased by roughly $6.25 trillion since 2012.
Gross national income (GNI), meanwhile, represents the total amount of money earned by a country's residents and businesses. Like the GDP, America's national income experienced a small dip in 2020, falling about 3.58 percent, but finished 2021 at an all time high of $23.39 trillion, or $70,430 per capita. America's GNI has more than doubled since 2005.
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