Covid affects Economics
This is about the macroeconomics and national accounts, GDP, etc. Please see the reference link. This main point is about how the measurement of the economy has been difficult to carried out or hampered due to the covid -19 now. It should not look at the point of view of macro or even micro concepts about how covid-19 actually affected the economy, but rather, it should be on the process of interpreting/extrapolating/
So it should be one of the key indicators in the links ( eg, GDP, inflation, current account).
Please choose the measurement to be discussed about the GDP and the national accounts. Talk about how its measurement has been disrupted by the covid pandemic and associated measures of lockdown and social distancing. You should comment on how the measurement of the variable was different in 2019.
Set out a text that relies as much as possible on how economic data are constructed.
please provide graphs or any tables, pictures for it as well. If using external resources, please provide the references links.
should also display data about the variable you have chosen from at least four countries. At least two countries should be advanced economies (according to the IMF classifications1) and at least two should be from the (IMF’s) “Emerging and Developing” or “Low- income Developing” country categories.
Have at least three new sources , not only reproduce whats in the source material but also add value or introduce a new perspective of what’s not in the source material.
Please do not spend much on background information, eg. do not need to spend any time explaining that covid is a respiratory virus or that pandemics are bad for the economy.
Here are the references links for you to have some idea on.
https://pubs.aeaweb.org/doi/
https://www.ons.gov.uk/
https://www.
https://www.economicsnetwork.
Answer preview
The Covid-19 pandemic has negatively affected the economy by presenting significant measurement issues. The Gross Domestic Product (GDP) is the primary measure utilized by multiple economies to indicate economic activities. This includes challenges to accurately and timely measure the Gross Domestic Product (GDP). Agencies that provide statistics on economies, such as The Bureau of Economic Analysis, have experienced difficulties interpreting and collecting economic data after the Coronavirus pandemic.
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