Answer to Question #118103 in Microeconomics for Juna Tamang

Question

Consider the financial crisis 2007-2009 in USA.
Now, assume that the crisis has been continuing for 10 years. We call this period as a long
run period
4. Explain the effect of this crisis on USA’s labour market in long-run? (200 words) (2
marks)
5. Explain the effect of this crisis on the levels of Americans’ consumption in long-run? (200
words) (2 marks)
6. Explain the effect of this crisis on the levels of USA’s investment in long-run? (200
words) (3 marks)
7. Explain the effect of this crisis on USA government’s Budget in long-run? (200 words) (2
marks)
8. Assume that you are a policy maker in USA’s government and central bank; how you can
recover the crisis by changing macroeconomic variables? (500 words)

Answer 1

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