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due to covid 19, what the governments (Local, State and Federal) are doing to address the...

due to covid 19, what the governments (Local, State and Federal) are doing to address the economic conditions created by the pandemic.   First identify a current government policy you are aware of and identify its components. Then, describe how this policy is intended to impact a specific industry, firms and/or individuals.

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Answer #1

Covid-19 has led to the fall in the aggregate demand in economy. It is likely to create the recessionary situation. Goverment is following the expansionary fiscal policy to correct the disequilibrium in an economy.

Goverment has announced the stimulus package of worth over 2 trillion to drive up aggregate demand in economy.

  • Social programs spending has been increased.
  • Special packages for small and cottage industries.
  • Direct transfers to people.
  • Concessional loans and credits.
  • Special health packages.
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