Question

In: Economics

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

Over the past seven weeks, we have explored different decades of US history and applied principles of macroeconomics to their outcomes. Take this time to share what you have learned with your classmates. In your initial post, respond to the following:

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.

Solutions

Expert Solution

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;

  1. 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.

  2. Loss of income left people with no enough income to meet the cost of housing. The increase in joblessness worsened homelessness rates.

  3. Many who were unemployed have found it harder to get jobs in the future which is also known as the hysteresis effect.

  4. 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 8 months ago
Next > < Previous

Related Solutions

Over the past seven weeks, we have explored different decades of US history and applied principles...
Over the past seven weeks, we have explored different decades of US history and applied principles of macroeconomics to their outcomes. Take this time to share what you have learned with your classmates. In your initial post, respond to the following: 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.
Microeconomics Over the past seven weeks, we have explored the foundational concepts and principles of microeconomics,...
Microeconomics Over the past seven weeks, we have explored the foundational concepts and principles of microeconomics, and we have applied them to the world around us. Take this time to share what you have learned with your classmates. In your initial post, respond to the following: • Choose one microeconomic concept applied in Under Armour Inc. Explain your findings and the implications to your chosen firm’s sustainability. • Using the same microeconomic concept chosen above, explain how it would be...
Income inequality has grown dramatically in the US over the past 4 decades.   Is that a...
Income inequality has grown dramatically in the US over the past 4 decades.   Is that a bad thing? Why/why not? What percentage of the US work force has enjoyed improved standards of living over the past 4 decades?   Who has received the productivity and income gains generated by the US economy over that period of time?   Should public policy be changed to encourage greater or lesser income inequality?   What changes would you advocate?
Over the course of the previous weeks, we have looked at lots of different approaches to...
Over the course of the previous weeks, we have looked at lots of different approaches to the topic of God’s existence. In Week 3 we looked at arguments for God’s existence. In Week 4, we look at some objections to God’s existence. In Week 5 we looked at Pascal who offered up a pragmatic argument for believing in God even if you are not sure of the evidence. And, in Week 6, we looked at how mystics approach God’s existence....
Over the past 10 weeks, we have discussed various aspects of accounting and how it relates...
Over the past 10 weeks, we have discussed various aspects of accounting and how it relates to the world around us. Thinking about what you have learned from this course, how could this knowledge be used in your everyday life? Consider such factors as personal organizational skills, financial awareness, financial accountability, or professional career growth.
on the labor market and inflation, we saw that over the past several decades the labor...
on the labor market and inflation, we saw that over the past several decades the labor force participation rate of men has been dropping while the labor force participation rate of women has been rising. What are some possible causes of this. I encourage you to look for information outside of your book. If you find an article that you find particularly compelling, please post it and discuss what you agree or disagree with and why.
Question 1 The capabilities of computer systems have advanced rapidly over the past several decades. In...
Question 1 The capabilities of computer systems have advanced rapidly over the past several decades. In many organizations, the entire data has been computerised and all the information is available only in digital media. In this changed scenario, auditors have to adapt their methodology to changed circumstances. The approach of auditors to evaluate internal controls has changed accordingly. The continual development is changing the way organization works. Many companies have introduced Information Technology (IT) audit function because it is considered...
Over the past decades comprehensive efforts have been made to create an efficient and effective health...
Over the past decades comprehensive efforts have been made to create an efficient and effective health care delivery system. Analyze 3 different time periods that impacted the economic delivery of health care services. Include the following: the time period in which change occurred, goal of the redesigned care delivery models and outcomes achieved, as well as continued challenges.
Within the past two decades, positive psychology and humanistic psychology have been at odds over their...
Within the past two decades, positive psychology and humanistic psychology have been at odds over their philosophical foundations and approaches to human well-being. Briefly discuss the historic development of positive psychology and humanistic psychology.
Research Scenario With increases in obesity rates over the past several decades, health care providers have...
Research Scenario With increases in obesity rates over the past several decades, health care providers have become concerned about the effects of obesity on health. As a health psychologist, you are interested in people’s perceptions and responses to food as this might influence obesity. You are curious if people that are impulsive or have difficult with impulse control are more likely to be obese and if they perceive sweet, high calorie foods as being more desirable than the general population....
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT