Question

In: Economics

Explain the current events in the economy because of the ongoingpandemic? Can this be classified...

Explain the current events in the economy because of the ongoing pandemic? Can this be classified as a regular financial crisis, Why or why not?

Solutions

Expert Solution

The social behavior of people has changed completely, pandemic has lasted its impact on people, whether it's changes in their lifestyle or the health issues faced by them. Workplace scenario and the social pattern of people has been affected. The economy faced the changes of trading activities, slow down in businesses, increased prices of commodities and services, etc. Due to pandemic the lifestyle of people worldwide and also the nations worldwide has been changed.
No, this can't be assumed as a normal financial crisis, as it has caused loss of lives globally and not only it has affected the financial activities of the economy, but also it has affected the way of living of the people. Protection is the biggest thing which any person seeks nowadays for their family.

Rahul Sunny answered 2 years ago
Next > < Previous

Related Solutions

Real GDP can increase both because an economy has unemployment and because of economic growth. Explain...
Real GDP can increase both because an economy has unemployment and because of economic growth. Explain fully the difference between these two ways of increasing GDP. Why does the Keynesian model focus only on increasing GDP by reducing unemployment and not on economic growth?
Real GDP can increase both because an economy has unemployment and because of economic growth. Explain...
Real GDP can increase both because an economy has unemployment and because of economic growth. Explain fully the difference between these two ways of increasing GDP. Why does the Keynesian model focus only on increasing GDP by reducing unemployment and not on economic growth?
6S events are important in health care because: A. The team can focus on the six...
6S events are important in health care because: A. The team can focus on the six sigma calculations used for improvement B. Cleaning and organizing the workspace can improve efficiency C. Ensuring that supplies are available when needed can promote patient safety D. None of the above E. A & B F. B & C
The data-bound controls can be classified into .....? explain with Examples (C#)
The data-bound controls can be classified into .....? explain with Examples (C#)
1.Briefly explain the current state of your economy and then briefly explain the current state of...
1.Briefly explain the current state of your economy and then briefly explain the current state of the U.S exonomy. 2. What else is inportant to know about your economy? Has anything changed because of Covid-19?
10 examples of how this marijuana can be classified as an addictive agent. explain.
10 examples of how this marijuana can be classified as an addictive agent. explain.
P4O10 is classified as an acidic oxide because it A. reacts with acids to produce a...
P4O10 is classified as an acidic oxide because it A. reacts with acids to produce a salt. B. is insoluble in water. C. reacts with water to produce OH– . D. gives a solution of phosphoric acid, H3PO4, on dissolving in water. E. can act as a Lewis base by donating electron pairs.
Explain actual events or dynamics could have led to changes in each component in the economy.
Explain actual events or dynamics could have led to changes in each component in the economy.
Analyze the effect of the following events on the economy. Make sure to explain everything step-by-step....
Analyze the effect of the following events on the economy. Make sure to explain everything step-by-step. The example is provided in the first task. a) The central bank increases the money supply. Ms increases => interest rate decreases => investment increases =>Y increases On the graph: LM shifts to the right; at the new equilibrium point, Y increases, interest rate decreases. b) The government increases taxes. c) The government increases government spending. d) MPC increases. e) the tax rate decreases.
Current Events Perform an Internet search and find a current events topic over the last 3...
Current Events Perform an Internet search and find a current events topic over the last 3 years that is related to this chapter 11 Healthcare Law - Basics of the U.S. Health Care System (4th Edition). Provide a summary of the article and the link to the article and explain how the article relates to the chapter.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT