The United States has been deeply affected by the coronavirus pandemic. Americans have lost significantly more jobs than most other advanced economies during the COVID-19 downturn. Roughly 9.6 million U.S. workers (ages 16 to 64) lost their jobs, based on averages of 2019 and 2020 unemployment data.Considering that joblessness reduces the household income and subsequently savings, explain how this situation has affected the loanable funds market of United states. Illustrate your answer with an appropriately labelled diagram. U.S economy contributes for about 16% of global output and thus has strong impact on world economy. In relation to your answer in part (a), how do you think the conditions in the global loanable funds market change?COVID-19 pandemic in 2020 led to a loss of 8.8 percent of global working-hours and a global labor income decline of about 8.3 percent.[1] Why was the percentage loss in labor income lower than the percentage loss in labor working-hours? Use diagrams to support your answer.

1.lower-wage and less-instructed laborers, racial and ethnic minorities, and ladies. Powell…

Answered: 16% of global output and thus has…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The United States has been deeply affected by the coronavirus pandemic. Americans have lost significantly more jobs than most other advanced economies during the COVID-19 downturn. Roughly 9.6 million U.S. workers (ages 16 to 64) lost their jobs, based on averages of 2019 and 2020 unemployment data.

Considering that joblessness reduces the household income and subsequently savings, explain how this situation has affected the loanable funds market of United states. Illustrate your answer with an appropriately labelled diagram.
U.S economy contributes for about 16% of global output and thus has strong impact on world economy. In relation to your answer in part (a), how do you think the conditions in the global loanable funds market change?
COVID-19 pandemic in 2020 led to a loss of 8.8 percent of global working-hours and a global labor income decline of about 8.3 percent.[1] Why was the percentage loss in labor income lower than the percentage loss in labor working-hours? Use diagrams to support your answer.

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