Question

In: Economics

Given the global economic crisis today , managers of economies all over the world , have...

Given the global economic crisis today , managers of economies all over the world , have started identifying the sectors of economic areas most affected are proactively rolling out policies or measures to increase economic growth. Discuss five (5) ways Ghana can increase in economic growth even in the face of this global pandemic. Show in each point the policy or program meant to propel Ghana’s economy growth

Solutions

Expert Solution

GHANA can follow basic activities as given below to improve the economic situation-

  1. RESTART THE MANUFACTURING AND SERVICE UNITS WITH PRECAUTIONS-after the relaxation in the lockdown the manufacturing and service units should be given permission to operate so employment can be generated and production process should be executed with proper precautionary measures like wearing mask,sanitization etc.
  2. PROVIDING AND MAINTAINING LIQUIDITY IN THE MARKET-central bank should properly maintain the flow of money in the money market so there shouldn't be any liquidity crisis,otherwise economy activities would not effectively operate.
  3. INCENTIVES TO THE ENTREPRENEURS-entrepreneurs would play an important role in the revival of the economy,therefore government should try to make them stress free.tax relaxation,financial assistance should be provided to this sectors.
  4. OPENING MARKETS CONCERNED WITH THE BUSINESS OUTPUTS-manufacturing of goods and services are not effective they won't get sold.therefore shopping malls,grocery shops other supply side concerns should be properly operable.
  5. ADAPTION OF ONLINE MANNER FOR DELIVERY OF GOODS-online manner of delivery for goods and services should be under taken for maximizing the economic revival and growth.

Rahul Sunny answered 7 months ago
Next > < Previous

Related Solutions

Given the Covid19 crisis that has impacted global economies on an unprecedented scale. The level of...
Given the Covid19 crisis that has impacted global economies on an unprecedented scale. The level of disruption is likely to persist as government around the world is likely to implement policies at all level to arrest the uncertainties. Some of the extreme policy implemented include utilizing of sovereign reserves of last resort, reducing interest rate, and quantitative easing to mitigate job losses. In 500 words, evaluate the situation in relation to the case study on financial derivative chapter and case...
Given the Covid19 crisis that has impacted global economies on an unprecedented scale. The level of...
Given the Covid19 crisis that has impacted global economies on an unprecedented scale. The level of disruption is likely to persist as government around the world is likely to implement policies at all level to arrest the uncertainties. Some of the extreme policy implemented include utilizing of sovereign reserves of last resort, reduced interest rate, and quantitative easing to mitigate job losses. In 500 words, evaluate the situation above and suggest how corporations can effectively survive in the survival of...
Given the current economic issues associated with the pandemic situation in the world, developing economies such...
Given the current economic issues associated with the pandemic situation in the world, developing economies such as of Pakistan is facing severe financing issues and credit crunch in financial markets. Suggest way(s) through which a new business can meet its financing obligations given the economic uncertainty and lack of credit availability from financial institutions.
The global economy has seen significant changes since the banking crisis in 2008. Many economies have...
The global economy has seen significant changes since the banking crisis in 2008. Many economies have gone through large-scale austerity programs to reduce deficits. How has this affected the business organizational structure? How has employment and personal income been affected?
Explain five factors that have contributed to the economic successes and failures of national economies over...
Explain five factors that have contributed to the economic successes and failures of national economies over time.
The global impact of COVID-19 is felt all over the world. This pandemic continues to impact...
The global impact of COVID-19 is felt all over the world. This pandemic continues to impact us at the macro and micro level of economics. Since March of 2020 we've seen a dramatic decline of GDP in numerous countries. I would like for you to explain why our economy here in the USA has contracted. You should draw from the formula of GDP which includes consumption, investment, government spending, as well as net exports. Describe how at least two factors...
All though all countries throughout the world have to face similar economic problems the economic system...
All though all countries throughout the world have to face similar economic problems the economic system they adopt as a means of dealing with them will differ. Essentially there are three approaches to tackling the economic problem of allocation, distribution and utilization of resources. Comment on all the three approaches and reason out which approach will work out in UAE as a country.
Covid-19 global economic pandemic has negatively affected economies as a whole at the global, national and...
Covid-19 global economic pandemic has negatively affected economies as a whole at the global, national and regional levels. The novel effects of the fluidity of Covid-19 appears to continue to have negative impacts on the macro business model as the global recession seems to be inevitable. You are working as a macroeconomist in economic affairs in your local country, and you are tasked with analyzing the impact of Covid-19 on the economy and you are required to prepare notes on...
In times of a global health crisis, such as what we are living through today, the...
In times of a global health crisis, such as what we are living through today, the importance of collective action of a country’s population increases. Those cultures, which value the collective behavior of their population, have fared far better during this pandemic i.e. South Korea, Vietnam. However, Western-oriented cultures (U.S.) where the population values individualism, challenging authority, and autonomy in decision-making, has led the world in cases of COVID 19. In the U.S., there has been considerable resistance to stay...
In response to Covid-19 lockdown resulting in the Global economic crisis and economic recessionary conditions the...
In response to Covid-19 lockdown resulting in the Global economic crisis and economic recessionary conditions the State Bank of Pakistan realized the need for expansionary monetary policy On the recommendations of Monetary Committee, the SBP reduced the policy rate from 13.5% to 8% in a period of two months. However, in recent meeting of Fiscal and Monetary Policy Coordination Board the Government made a compelling case for the further lowering of the interest rate. Its basic argument was that high...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT