Answer to Question #331296 in Macroeconomics for Joel

Question #331296

Consider how the economy has performed throughout your life. Identify a time you believed the economy was in a peak or a trough. When was the economy expanding? When was it contracting? Describe the overall trajectory of the economy throughout your life.


1
Expert's answer
2022-04-22T13:49:49-0400

In 2008 the economy contracted. Therefore, low income levels and high level of unemployment was observed.

In 2019 the economy grew (with high investment rates and growing salaries) before a sharp collapse due to COVID-19.


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