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SeaBass2013 SeaBass2013
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A year ago
During the Covid-19 pandemic, the United States saw a sharp contraction in GDP as many communities enforced lockdowns and households began to spend less on things like restaurants and travel. This caused the labor demand curve to shift left and caused a large increase in unemployment. Which of the following is NOT a way that market forces would cause a recovery over the medium term?

▸ Retailers have run out of existing inventory leftover from when people were not buying as much and now need to restock in order to meet increased demand after their vaccine is rolled out.

▸ Unemployed workers in the hard-hit services industry are able to find jobs in expanding industries like delivery through Amazon and food delivery apps.

▸ Unemployed workers who are unable to find jobs give up and leave the workforce lowering the unemployment rate.

▸ A successful vaccine roll out allows people to start doing pre-pandemic activities, and there is an explosion of people spending more to make up for months of spending less.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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Gimor1220Gimor1220
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A year ago
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