Answer to Question #274121 in Macroeconomics for Maika Togavuto

Question

Early last year Fijian Government closed its boarders. Curfew hours and containment zones were introduced to stop the spread of Covid 19 disease. Major hotels, shops and connected sectors were closed and as a result many individuals were out of employment. This business remained closed till to date.

As Macroeconomics student, Discuss the economic impact of Covid-19 on your economy and provide 5 macroeconomics policy responses to Covid-19 crisis? 

Answer 1

COVID-19 lead to reduction of employments and spendings. People loss more jobs, which reduced the amount of GDP. Most of the hotels were locked and operations reduced, making a decrease in income.