Terms in this set (783)

US Bureau of Economic Analysis (www.bea.gov) - The Bureau of Economic Analysis (BEA) is an agency of the Department of Commerce and is located at 1441 L Street NW, Washington DC. Along with the Census Bureau and STAT-USA, BEA is part of the Department's Economics and Statistics Administration. BEA seeks to strengthen the understanding of the U.S. economy and its competitive position by providing the most accurate and relevant GDP and economic accounts data in a timely and cost-effective manner. BEA is one of the world's leading statistical agencies. Although it is a relatively small agency, BEA produces some of the most closely watched economic statistics that influence the decisions made by government officials, business people, households, and individuals. BEA's economic statistics, which provide a comprehensive, up-to-date picture of the U.S. economy, are key ingredients in critical decisions affecting monetary policy, tax and budget projections, and business investment plans. The cornerstone of BEA's statistics is the national income and product accounts (NIPA's), which feature the estimates of gross domestic product (GDP) and related measures. The GDP was recently recognized by the Department of Commerce as its greatest achievement of the 20th century and has been ranked as one of the three most influential measures that affect U.S. financial markets. Since the NIPA's were first published, BEA has developed and extended its estimates to cover a wide range of economic activities. Today, BEA prepares national, regional, industry, Economic Development Terms - Compiled by Greg Last, CED - March 1, 2007 - Page 4 and international accounts that present essential information on such key issues as economic growth, regional economic development, inter-industry relationships, and the Nation's position in the world economy.