How has the covid-19 pandemic impact scarcity in the American economy?

Expert Solution

The covid-19 pandemic has adversely affected the economies and day to day life of people, talking about economy the unemployment rate in America increases from 3.5% in february to14.7% in April.

There was scarcity of jobs in industries that rely on in-person interaction like education and health services etc.

The spending of people declined by 17% from February to April in 2020.

The big industries were affected badly moreover covid-19 had an adverse affect on small and startup companies.

Rahul Sunny answered 2 years ago

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