Question

Are we currently in a depression or recession in the United States as a result of...

Are we currently in a depression or recession in the United States as a result of the Corona Virus pandemic? Please explain.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

We are in a recession, for this to develop in a depression the present condition of job loss, fall in demand and price level have to continue for several years. A economic downturn is termed as a recession when it lasts only for six month or similar period.

Till recently, US market were doing very good, the stock market was high, unemployment was all time low and price were rising, due to all this the Fed had to increase the interest rate, all this are signs of a well functioning economy. IF this present condition lasted for a year or two US will enter a depression which I believe is highly unlikely.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What would you say was the primary cause of the Great Depression in the United States....
What would you say was the primary cause of the Great Depression in the United States. How did the United States economy recover? How does this differ from the 2008 Recession in the United States? How can I structure my answer to this question into an essay? I want to talk about the stock market crash of 1929 as the primary cause of the great depression.
During the 2020 coronavirus pandemic, the United States' unemployment rate increased from a low of 3.5%...
During the 2020 coronavirus pandemic, the United States' unemployment rate increased from a low of 3.5% to 14.7% (as of April 2020). For a historical reference, during the Great Depression the US unemployment rate reached 25%. During the Great Recession, unemployment reached 10% (2009). Using the economic concepts you have learned thus far, discuss the trade-offs for some of the decisions made in response to the pandemic as it relates to unemployment. Please try to keep the discussion centered around...
If countries that imported from the United States went into recession, we expect that U.S. net...
If countries that imported from the United States went into recession, we expect that U.S. net exports would _________ rise, making the aggregate demand shift right fall, making aggregate supply shift right fall, making aggregate demand shift left rise, making aggregate supply shift left
The United States was recently in a recession. What would be the expected effect of a...
The United States was recently in a recession. What would be the expected effect of a recession on accounts receivable turnover ratios?
Explain the difference between a recession and a depression.
Explain the difference between a recession and a depression.
What happened to the price of gold during the Great Recession in the United States
What happened to the price of gold during the Great Recession in the United States
-If the United States economy is in a recession or slowing down and the Federal Reserve...
-If the United States economy is in a recession or slowing down and the Federal Reserve implements a “quantitative easing” monetary policy. Would the Fed – increase or decrease reserve requirements? - If the United States economy is dealing with high inflation and the Federal Reserve implements a “quantitative tightening” monetary policy. Would the Fed – increase or decrease reserve requirements?
The United States entered the “Great Recession” in late-2007. The recession officially ended in 2009, but...
The United States entered the “Great Recession” in late-2007. The recession officially ended in 2009, but the U.S. economy remained weak through 2012. Do you think social insurance programs play a larger consumption smoothing role during recessionary or non-recessionary periods? Why?
During the Great Recession, consumer sentiment in the United States declined, leading to a decrease in...
During the Great Recession, consumer sentiment in the United States declined, leading to a decrease in consumer spending. Which of the following factors caused this decrease in consumer sentiment? a. an increase in tax rates b. a decrease in expected income c. a decrease in the money supply d. an increase in household wealth e. falling gasoline prices During the Great Depression, aggregate demand in the U.S. economy decreased. As a result, the unemployment rate _________ and the price level...
What are some of the trade-related issues the United States is currently facing? Please explain the...
What are some of the trade-related issues the United States is currently facing? Please explain the issues using economic terminology and principles. Also, provide your opinion about the issue you are discussing.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT