Question

1. What do you think is necessary in the US to increase economic growth? 2. Do...

1. What do you think is necessary in the US to increase economic growth?

2. Do you think that the US government should privatize remaining assets

(think of the post office (negative profit for years), DMV, and Amtrak (high prices))?


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Answer #1

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The after the spread of COVID-19, the growth rate of economy has stagnated. It has given rise to the unemployment and fall in the output level. Growth rate between 2-3 % is needed over the short run for the following reasons:

  • Growth rate will increase the employment rate in the economy.
  • The living standard will rise due to the rise in the production of goods and services.
  • Income inequalities and poverty decline when growth rate is high enough.

Thus as of now the economy needs to have higher growth rate.

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