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Nominal GDP measures a country's total economic output of goods and service as valued at current market prices. The formula of Nominal GDP is Real GDP x GDP Deflator. Nominal GDP is represented mathematically as C+I+G+NX=GDP. The USA economy suffered its biggest blow since the Great Depression in the 2^ndquarter as the COVID-19 pandemic decreased the consumer and business spending. A lot of restaurants, bars and factories have either had to shut down their businesses and decrease consumer occupancy in the locations. Restaurants had to serve their customers take-out and delivery orders. Worldwide, a lot of people must wear face masks and stand 6 feet apart from each other.

The American economy is in another recession. "GDP collapsed at 32.9% annualized rate last quarter, the deepest decline in output since the government started keeping records in 1947"(Mutikani, 2020)."Economist polled by Reuters had forecast GDP slumping at a 34.1% rate in the April-June quarter"(Mutikani, 2020)."On year-on-year basis GDP fell a record 9.5% last quarter"(Mutikani, 2020)."Output shrank 10.6% in the 1^sthalf"(Mutikani, 2020).Unemployment rose amongst my fellow Americans in the workforce. Then there comes an unemployment check, which were nothing but $600 weekly.

Many companies have exhausted their loans. Republicans believed that the jobless benefit would stop the unemployed from looking for work. "Business investment tumbled at a 27% rate"(Mutikani, 2020).Trade added to GDP, but the inventories were a drag..