Question

For this Final Project you are to identify four important, new economic challenges you think could emerge during 2018 (these are up to you to select). Next, outline a course of action for successfully addressing each of them. The actions you propose should be based on what you have learned about economics from this course and other scholarly sources, not just opinion. The Project should be 8 - 10 pages long, in APA format, and make use of at least four scholarly sources other than the text.

Answer 1

Four most important economic challenges facing the country are :

Unemployment : Rate of unemployment has risen which is a challenge in front of the economy.
Inflation : Rising prices of commodities is an economic challenge.
Low per capita income : Low per capita income is a challenge faced by the economy.
Tight Fiscal policy : High amount of taxes imposed on the people.
Measures to address the challenges :

Unemployment : Outsourcing should be stopped to generate more number of employment opportunities in the country. Credit should be available at low interest rate to encourage new business ventures and to generate new employment opportunities.

Inflation : High price should be addressed by increasing imports and reducing exports. Government should intervene by putting a tight control on the raising prices. High rate of credit cost would put a tight control on the consumer's demand and thus control inflation.

Low per capita income: Government should increase the number of employment opportunities by encouraging new business ventures and thus increasing the number of employmnet opportunities. This will raise the per capita income of the population.

Tight Fiscal Policy : Government should relax the fiscal policy by lowering the tax rate imposed on the citizens and thus overcome the challenge.