A. Covid 19 EffectsUsing the consumer choice theory, show theimpacts of the following:a. Person becomes unemployed and then getsunemployment insurance6. Person has their hours reduced to part-time andthen gets a rescue checkc. Worker sees a reduction in their payroll tax from12.5% to 10%.Using theory of the firm, show and describe theimpacts of the following:a. They are required to shut down6. They then receive a loan (e.g., PPP) that becomesa grant if they use it to cover the salaries of theiremployeesUse the macroeconomic model (Y = C +1 +G +NX)to describe the following:a. Reduction in income to households becausegovernment shuts the economy down6. Congress and the President pump $2 trillion intothe economyWhy do people call the current recovery a K-stylerecovery.

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A. Covid 19 Effects Using the consumer choice theory, show the impacts of the following: a. Person becomes unemployed and then gets unemployment insurance o. Person has their hours reduced to part-time and then gets a rescue check c. Worker sees a reduction in their payroll tax from 12.5% to 10%. Using theory of the firm, show and describe the impacts of the following: a. They are required to shut down o. They then receive a loan (e.g., PPP) that becomes a grant if they use it to cover the salaries of their employees Use the macroeconomic model (Y = C +I + G +NX) to describe the following: a. Reduction in income to households because government shuts the economy down p. Congress and the President pump $2 trillion into the economy Why do people call the current recovery a K-style recovery.

A. Covid 19 Effects Using the consumer choice theory, show the impacts of the following: a. Person becomes unemployed and then gets unemployment insurance o. Person has their hours reduced to part-time and then gets a rescue check c. Worker sees a reduction in their payroll tax from 12.5% to 10%. Using theory of the firm, show and describe the impacts of the following: a. They are required to shut down o. They then receive a loan (e.g., PPP) that becomes a grant if they use it to cover the salaries of their employees Use the macroeconomic model (Y = C +I + G +NX) to describe the following: a. Reduction in income to households because government shuts the economy down p. Congress and the President pump $2 trillion into the economy Why do people call the current recovery a K-style recovery.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 19CTQ: Suppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers...

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