Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Help me reply to this student post After reviewing the data, I would say the state of the economy is a recovering stage, not a
Help me reply to this student post After reviewing the data, I would say the state of the economy is a recovering stage, not a recession. Some people still believe that an economic recession is coming but, we are making a slow recovery since 2020 when the Covid 19 pandemic hit. I would say this because there's been a 2.4% GDP increase in the second quarter of 2023 and the unemployment rates have decreased after rising tremendously in 2020. The rise and fall of unemployment levels is caused by the aggregate demand (AD) and aggregate supply (AS) models. I think that the curve on the model that caused the change in the economy is the aggregated demand curve. The curve would have shifted to the left due to the increase of unemployment and GDP
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started