Analyze the current economic conditions and provide 2 policy recommendations that will either provide stability or maintain it. Expansion or Recession?

Examine the economic situation and make 2 recommendations for policy that either stabilize or maintain it.

 

Recession or expansion?

 

Answer

Unavoidable changes in global aggregate economic activity can cause a country to experience an expansion or recession. Easterly (1999) states that an economic expansion refers to a period in a business cycle when there is increased economic activity for more then two consecutive quarters. This is defined by a rise in per-capita income, higher employment, greater customer spending, improved consumer confidence, increased equity markets and increased investment. Contrarily, a recession can be defined as an economic contraction that lasts for at least two quarters. It is measured as the increase in gross domestic product (GDP). The current economic expansion in the country can be seen by two consecutive quarterly GDP increases. This is evidenced by the fact that the GDP has grown more than its potential. There are also low unemployment rates, 8.5% inflation, rising interest rates, and a lower unemployment rate. This paper analyses the country’s current economic growth and provides policy recommendations for sustaining it.

The Bureau of Economic Analysis has released data that show the country experiencing an expansion, with a 6.9% consecutive increase in GDP.

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