Question 1: Macroeconomics Based on: Chapter 5: How we rely…
Question 1: Macroeconomics Based on: Chapter 5: How we rely on Welfare ESPP: 8.2 Measuring the Economy: Employment and Unemployment 1.4: Economic Growth ******************************************** a) According to chapter 5 in PBA, when the COVID pandemic struck, millions of Americans lost their jobs and the federal government responded with bold relief. Describe two policies that the government implemented to support those who lost their jobs as a result of the pandemic. (3pts) b)Define how economic growth is measured and how it relates to employment. How did the policies you describe in a) affect economic growth during that time period? (3pts) c)What is the role of welfare policies for the economy as whole? Bill Clinton and others have sought to “end welfare” because they claim it creates a cycle of dependency? Do you agree? Explain with support from chapter 5 in PBA. (4pts)