Over the past seven weeks, we have explored different decades of US history and applied principles...

Choose one macroeconomic concept you applied in your final project of the years 2000-2010. Explain how it helps describe the economic outcomes of the decade you researched during 2000-2010.

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The macroeconomic concept I have used in my project in economics was the US unemployment rate During 2000-2010 the U.S. Has enjoyed an extended length of high economic increase, low unemployment, and quite low inflation because of tendencies on each the call for and supply sides of the financial system. The US had a better blend of economic and economic policies. The supply side has been stimulated by using extra open and competitive markets, with the aid of deregulation, and by technological advances that have extended productivity. And a colorful entrepreneurial infrastructure that has fostered modern start-ups that have positioned a new era to work and helped produce impressive gains in productivity.

The unemployment rate has a significant effect on the economic outcomes of the decade;

Unemployment was one of the major causes of poverty in the United States during the period 2000-2010. Long-term unemployment drove households into debt, and increased relative poverty levels.
Loss of income left people with no enough income to meet the cost of housing. The increase in joblessness worsened homelessness rates.
Many who were unemployed have found it harder to get jobs in the future which is also known as the hysteresis effect.
Higher unemployment triggered a decrease in tax revenue due to less people paying income tax and therefore reduced spending. The government has also had to spend more on unemployment and the related benefits. Not only does the government pay unemployment insurance, but a family who has unemployment would be more likely to receive housing and income assistance.

Rahul Sunny answered 1 month ago

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