Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Economic growth has been measured using gross domestic product (GDP), gross domestic product per capita, etc. Using expenses approach to calculate GDP, the equation becomes:

Economic growth has been measured using gross domestic product (GDP), gross domestic product per capita, etc. Using expenses approach to calculate GDP, the equation becomes: GDP= C+I+G+(X-M), where C is private consumption, I is investment, G is Government expenditure, X is exports and M is import. During Corona Virus hard moments, it can be seen that all those variables included in calculation of GDP are concerned: decrease of consumption, investment, government expenditure, export and import. In such conditions, GDP will necessarily decrease as consequence of decline of its determinants. How economic growth can be boosted after covid'19?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Risk Management And Insurance

Authors: Scott E Harrington, Greg Niehaus

2nd Edition

0072339705, 9780072339703

Students also viewed these Economics questions

Question

13. Give four examples of psychological Maginot lines.

Answered: 1 week ago