Part 1 The occurrence of the pandemic is a global concern because of its effect on economic growth There exists an inverse relationship between the two variables A pandemic is economically interpreted as a shock to the system that disrupts economic growth Achieving economic growth in the face of a pandemic is impossible since the two variables are inversely related (Coccia, 2021) Current research on the topic above and related reveals how the pattern and expectations of economic development changed with the COVID pandemic that stuck global economies in 2021(Smiianov, 2020) Explanation A pandemic is a destructive disturbance that brings down the health stock of producers and economic agents to an indefinite pause Economic growth refers to the progressive increment in production that leads to income generation for positive change in the economy's structure and face Economic growth is determined by several factors some are constant, some recurring, and some are uncertainties A pandemic falls under uncertainties since its time and extent of disruption cannot be forecasted It is impossible to achieve economic growth while facing a pandemic Both economic growth and control of pandemics will compete for resources A pandemic is a health status that affects the human capital that is needed for consistent and mass production The ministry of health, in collaboration with the national and federal governments, takes it as a collective responsibility to control the spread A pandemic occurrence is a risk factor that threatens the sustainability of the entire economy if not controlled So to proceed with economic growth, state intervention that will stop the spread or control the pandemic is needed, but it can't happen simultaneously The economy's performance was clearly visible in the next financial year, 2021, when the world faced a pandemic of the coronavirus There occurred a drastic change in the progress of most economies, as the states still struggled to come up with the most feasible strategy of controlling it Economies recorded a surge in production in several sectors, and this was reflected in changes in consumption and production patterns in the 2021 analysis A specific example case is the U S economy, which faced an economic downturn due to the COVID pandemic and the fluctuation of oil prices and the market in general(Sharif, 2020) Part 2 This assignment involves two elements 1 Discuss in general the things that might affect infection rates in addition to state restrictive non restrictive policies among states Outside sources with citation needed 2 Consider your Element 1 discussion Describe the steps you might take to satisfy the all else constant requirements of your paper 3 analysis for Pennsylvania and Ohio These include things that might be similar in the two states and therefore are constant These need to be listed with reference to the sources you use In addition, list factors that you have to ASSUME are constant, that you will need caveats for in your paper 3 analysis There are numerous factors that might affect infection rates in addition to state restrictive non restrictive policies among states Some of these include, but are not limited to, climate, population density, age distribution of population, healthcare availability and quality, and compliance with recommended health and safety measures such as wearing masks and social distancing Assuming that all else is constant, in order to compare the infection rates of Pennsylvania and Ohio, one would need to take into account factors such as the climate, population density, age distribution of population, healthcare availability and quality, and compliance with recommended health and safety measures in both states Additionally, one would need to assume that other factors such as the amount of travel between the two states, the number of cases imported from other states, and the level of compliance with recommended health and safety measures are constant Explanation question 1 The three things that might affect infection rates in addition to state restrictive non restrictive policies among states are a state's population density, the age demographics of the state, and the state's climate A state's population density can affect infection rates because the more people that are living in close proximity to one another, the more likely it is for the virus to spread The age demographics of a state can also affect infection rates, because older people are more susceptible to the virus and more likely to experience severe symptoms The state's climate can also affect infection rates because warmer climates may allow the virus to spread more easily 284 persons per square mile populate Pennsylvania, and the typical age is 40 6 The typical winter temperature in Pennsylvania is between 20 and 30 degrees Fahrenheit For further information, please see the following link At 284 people per square mile, Ohio has the highest population density of any state, and the median age is 39 3 Ohio has a chilly climate, with winter temperatures averaging between 20 and 30 degrees Fahrenheit on average Nonetheless, Both Pennsylvania and Ohio have similar population densities and climates, but Pennsylvania has a slightly higher median age This may explain why Pennsylvania has had a higher infection rate than Ohio Pennsylvania has had a total of 732,818 confirmed cases of the coronavirus, while Ohio has had a total of 584,942 confirmed cases Pennsylvania's higher infection rate has had a negative impact on the state's economy Pennsylvania's unemployment rate was 6 9 in December 2020, while Ohio's unemployment rate was 5 0 in December 2020 This indicates that Pennsylvania has been struggling to create jobs, while Ohio has been doing better in this area Pennsylvania's GDP growth rate was 3 5 in 2020, while Ohio's GDP growth rate was 2 7 in 2020 This indicates that Pennsylvania's economy has been shrinking, while Ohio's economy has been growing, albeit at a slower rate question 2 In order to compare the infection rates and economic growth of Pennsylvania and Ohio, it is necessary to control for other factors that could affect these variables This includes controlling for the population density, median age, and climate of each state Pennsylvania and Ohio have similar population densities and climates, but Pennsylvania has a slightly higher median age This may explain why Pennsylvania has had a higher infection rate than Ohio Therefore, controlling for these factors will allow for a more accurate comparison of the infection rates and economic growth of each state There are several things that need to be considered in order to keep the analysis for Pennsylvania and Ohio constant The first is the population density Pennsylvania and Ohio have similar population densities, so this should not be a factor that impacts the analysis The second is the age demographics of the state Pennsylvania has a slightly higher median age than Ohio, but this should not impact the analysis significantly The third is the state's climate Pennsylvania and Ohio have similar climates, so this should not be a factor that impacts the analysis The fourth is the state's GDP growth rate Pennsylvania's GDP growth rate was 3 5 in 2020, while Ohio's GDP growth rate was 2 7 in 2020 This indicates that Pennsylvania's economy has been shrinking, while Ohio's economy has been growing, albeit at a slower rate However, this should not impact the analysis significantly because the two states have similar GDP growth rates Part 3, is your analysis Therefore no citation is required This is your own original analysis Here are the elements Your states are Pennsylvania and Ohio Please only analyze 2020 Using the Johns Hopkins University data investigate for possible correlations between state restrictive non restrictive policies and infection rates Look at trends, not just individual data points Consider that some periods might have different results than others THERE ARE NO RIGHT OR WRONG ANSWERS as long as the analysis is done thoroughly There may be a relationship or there may not be This is strictly positive analysis and must be objective Avoid overly stringent claims, like a caused b Instead, there appears doesn't appear to be a correlation in Part 2 you listed factors that you held constant by assumption In this element you will explain how those assumptions might bias your results Might your outcome have been different if you didn't impose the all else constant requirement This is essentially a caveat to your results Please need the answer for part 03 only based part 1 and part 2

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 13, 2024

Part 1 -The occurrence of the pandemic is a global concern because of its effect on economic growth. There exists an inverse relationship between the

Part 1 -The occurrence of the pandemic is a global concern because of its effect on economic growth. There exists an inverse relationship between the two variables. A pandemic is economically interpreted as a shock to the system that disrupts economic growth.

Achieving economic growth in the face of a pandemic is impossible since the two variables are inversely related.(Coccia, 2021).
Current research on the topic above and related reveals how the pattern and expectations of economic development changed with the COVID pandemic that stuck global economies in 2021(Smiianov, 2020).

Explanation:

A pandemic is a destructive disturbance that brings down the health stock of producers and economic agents to an indefinite pause. Economic growth refers to the progressive increment in production that leads to income generation for positive change in the economy's structure and face. Economic growth is determined by several factors; some are constant, some recurring, and some are uncertainties. A pandemic falls under uncertainties since its time and extent of disruption cannot be forecasted. It is impossible to achieve economic growth while facing a pandemic. Both economic growth and control of pandemics will compete for resources. A pandemic is a health status that affects the human capital that is needed for consistent and mass production. The ministry of health, in collaboration with the national and federal governments, takes it as a collective responsibility to control the spread. A pandemic occurrence is a risk factor that threatens the sustainability of the entire economy if not controlled. So to proceed with economic growth, state intervention that will stop the spread or control the pandemic is needed, but it can't happen simultaneously.
The economy's performance was clearly visible in the next financial year, 2021, when the world faced a pandemic of the coronavirus. There occurred a drastic change in the progress of most economies, as the states still struggled to come up with the most feasible strategy of controlling it. Economies recorded a surge in production in several sectors, and this was reflected in changes in consumption and production patterns in the 2021 analysis. A specific example case is the U.S. economy, which faced an economic downturn due to the COVID pandemic and the fluctuation of oil prices and the market in general(Sharif, 2020).

Part - 2 This assignment involves two elements.

1. Discuss in general the things that might affect infection rates in addition to state restrictive/non-restrictive policies among states. Outside sources with citation needed.

2. Consider your Element 1 discussion. Describe the steps you might take to satisfy the "all else constant" requirements of your paper 3 analysis for Pennsylvania and Ohio. These include things that might be similar in the two states and therefore are constant. These need to be listed with reference to the sources you use. In addition, list factors that you have to ASSUME are constant, that you will need caveats for in your paper 3 analysis.

There are numerous factors that might affect infection rates in addition to state restrictive/non-restrictive policies among states. Some of these include, but are not limited to, climate, population density, age distribution of population, healthcare availability and quality, and compliance with recommended health and safety measures such as wearing masks and social distancing.
Assuming that all else is constant, in order to compare the infection rates of Pennsylvania and Ohio, one would need to take into account factors such as the climate, population density, age distribution of population, healthcare availability and quality, and compliance with recommended health and safety measures in both states. Additionally, one would need to assume that other factors such as the amount of travel between the two states, the number of cases imported from other states, and the level of compliance with recommended health and safety measures are constant.

Explanation:

question 1

The three things that might affect infection rates in addition to state restrictive/non-restrictive policies among states are a state's population density, the age demographics of the state, and the state's climate.
A state's population density can affect infection rates because the more people that are living in close proximity to one another, the more likely it is for the virus to spread. The age demographics of a state can also affect infection rates, because older people are more susceptible to the virus and more likely to experience severe symptoms. The state's climate can also affect infection rates because warmer climates may allow the virus to spread more easily.
"284 persons per square mile populate Pennsylvania, and the typical age is 40.6. The typical winter temperature in Pennsylvania is between 20 and 30 degrees Fahrenheit "For further information, please see the following link:
"At 284 people per square mile, Ohio has the highest population density of any state, and the median age is 39.3. Ohio has a chilly climate, with winter temperatures averaging between 20 and 30 degrees Fahrenheit on average "Nonetheless,. Both Pennsylvania and Ohio have similar population densities and climates, but Pennsylvania has a slightly higher median age. This may explain why Pennsylvania has had a higher infection rate than Ohio. Pennsylvania has had a total of 732,818 confirmed cases of the coronavirus, while Ohio has had a total of 584,942 confirmed cases.Pennsylvania's higher infection rate has had a negative impact on the state's economy. Pennsylvania's unemployment rate was 6.9% in December 2020, while Ohio's unemployment rate was 5.0% in December 2020. This indicates that Pennsylvania has been struggling to create jobs, while Ohio has been doing better in this area. Pennsylvania's GDP growth rate was -3.5% in 2020, while Ohio's GDP growth rate was -2.7% in 2020. This indicates that Pennsylvania's economy has been shrinking, while Ohio's economy has been growing, albeit at a slower rate.

question 2

In order to compare the infection rates and economic growth of Pennsylvania and Ohio, it is necessary to control for other factors that could affect these variables. This includes controlling for the population density, median age, and climate of each state. Pennsylvania and Ohio have similar population densities and climates, but Pennsylvania has a slightly higher median age. This may explain why Pennsylvania has had a higher infection rate than Ohio.
Therefore, controlling for these factors will allow for a more accurate comparison of the infection rates and economic growth of each state.There are several things that need to be considered in order to keep the analysis for Pennsylvania and Ohio constant. The first is the population density. Pennsylvania and Ohio have similar population densities, so this should not be a factor that impacts the analysis. The second is the age demographics of the state. Pennsylvania has a slightly higher median age than Ohio, but this should not impact the analysis significantly.
The third is the state's climate. Pennsylvania and Ohio have similar climates, so this should not be a factor that impacts the analysis. The fourth is the state's GDP growth rate. Pennsylvania's GDP growth rate was -3.5% in 2020, while Ohio's GDP growth rate was -2.7% in 2020. This indicates that Pennsylvania's economy has been shrinking, while Ohio's economy has been growing, albeit at a slower rate. However, this should not impact the analysis significantly because the two states have similar GDP growth rates.

Part 3, is your analysis. Therefore no citation is required. This is your own original analysis. Here are the elements:

Your states are Pennsylvania and Ohio. Please only analyze 2020

Using the Johns Hopkins University data investigate for possible correlations between state restrictive/non-restrictive policies and infection rates. Look at trends, not just individual data points. Consider that some periods might have different results than others. THERE ARE NO RIGHT OR WRONG ANSWERS as long as the analysis is done thoroughly. There may be a relationship or there may not be. This is strictly positive analysis and must be objective. Avoid overly stringent claims, like "a caused b." Instead, there "appears/doesn't appear" to be a correlation.
in Part 2 you listed factors that you held constant by assumption. In this element you will explain how those assumptions might bias your results. Might your outcome have been different if you didn't impose the all else constant requirement. This is essentially a caveat to your results.
Please need the answer for part 03 only based part 1 and part 2