Discuss the us economy, The subsequent start of economic

Discuss the us economy

Assignment Help Macroeconomics

Reference no: EM133364046

Assignment:

The COVID-19 pandemic and the subsequent start of economic recovery have dramatically altered the economy in many respects, not only domestically but also globally. Consider the U.S. economy.

In the context of the production possibilities curve, we can think of the early part of the pandemic as having caused either a decrease in resource availability or an impediment to full employment of the accessible economic resources. What impact do you think this had on companies, in terms of how much they were producing, in the United States? And what impact do you think U.S. consumers experienced in terms of how much they were able to consume?

Finally, consider the later parts of the recovery, including the recent inflation (wide-spread price increases) the economy has experienced. How do you think this more recent economic change could impact that same production possibilities curve? Explain the reasoning behind your answer.

Reference no: EM133364046

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