The United States is the world's largest national economy in nominal terms and second largest according to purchasing power parity, representing 22% of nominal global GDP and 17% of gross world product.
Theories that invoke purchasing power parity assume that in some circumstances it would cost exactly the same number of, for example, US dollars to buy euros and then to use the proceeds to buy a market basket of goods as it would cost to use those dollars directly in purchasing the market basket of goods.
The United States of America, commonly referred to as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, and various possessions.
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The United States' GDP was estimated to be $17.914 trillion as of Q2 2015.
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The U.S. dollar is the currency most used in international transactions and is the world's foremost reserve currency, backed by its science and technology, its military, the full faith of the US government to reimburse its debts, its central role in a range of international institutions since World War II and the petrodollar system.
A currency in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.
A reserve currency is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves.
World War II, also known as the Second World War, was a global war that lasted from 1939 to 1945, although related conflicts began earlier.
Several countries use it as their official currency, and in many others it is the de facto currency.
A de facto currency is a unit of money that is not legal tender in a country but is treated as such by most of the populace.
The United States has a mixed economy and has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment.
A mixed economy is defined as an economic system consisting of a mixture of either markets and economic planning, public ownership and private ownership, or markets and economic interventionism.
Unemployment occurs when people who are without work are actively seeking paid work.
To invest is to allocate money in the expectation of some benefit in the future.
Its seven largest trading partners are Canada, China, Mexico, Japan, Germany, South Korea, and the United Kingdom.
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom or Britain, is a sovereign state in Europe.
South Korea, officially the Republic of Korea, is a sovereign state in East Asia, constituting the southern part of the Korean Peninsula.
Germany, officially the Federal Republic of Germany, is a federal parliamentary republic in central-western Europe.
The US has abundant natural resources, a well-developed infrastructure, and high productivity.
Natural resources are resources that exist without actions of humankind.
It has the world's ninth-highest per capita GDP and tenth-highest per capita GDP as of 2013.
Americans have the highest average household and employee income among OECD nations, and in 2010 had the fourth highest median household income, down from second highest in 2007.
The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 35 member countries, founded in 1961 to stimulate economic progress and world trade.
Median income is the amount that divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount.
It has been the world's largest national economy since at least the 1890s.
The U.S. is the world's largest producer of oil and natural gas.
It is one of the largest trading nations in the world as well as the world's second largest manufacturer, representing a fifth of the global manufacturing output.
The US not only has the largest internal market for goods, but also dominates the trade in services.
Trade in Services refers to the sale and delivery of an intangible product, called a service, between a producer and consumer.
US total trade amounted to $4.93T in 2012.
Of the world's 500 largest companies, 128 are headquartered in the US.
The consumer market of the US represents the largest in the world.
The United States has one of the world's largest and most influential financial markets.
A financial market is a market in which people trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand.
The New York Stock Exchange is by far the world's largest stock exchange by market capitalization.
Market capitalization is the market value at a point in time of the shares outstanding of a publicly traded company, being equal to the share price at that point of time times the number of shares outstanding.
A stock exchange or bourse is an exchange where stock brokers and traders can buy and/or sell stocks, bonds, and other securities.
The New York Stock Exchange, is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York.
Foreign investments made in the US total almost $2.4 trillion, while American investments in foreign countries total over $3.3 trillion.
The economy of the U.S. leads in international ranking on venture capital and Global Research and Development funding.
Venture capital is a type of private equity, a form of financing that is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential, or which have demonstrated high growth.
Research and development, also known in Europe as research and technical development, is a general term for activities in connection with corporate or governmental innovation.