Micro Economics / Macro Economics Spokane Falls Commnity College SFCC Econ 201/202
20th Edition
ISBN: 9781308227511
Author: McConnell Brue Flynn
Publisher: McGraw Hill
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Chapter 20, Problem 8DQ
To determine
The economic effect of price support.
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I have chosen Gross Domestic Product (GDP) as the macroeconomic indicator to review and provide a forecast prediction. Based on the current trend I predict a 2% annual GDP growth rate, indicating an unstable economy due to the impact of Donald Trump's tariffs on some countries and other other economic factors. This growth rate is lower than the historical average , indicating a slowdown in economic expansion. Overall, the forecast suggests a modest growth in GDP, but with potential risks and uncertainties ahead. But if he reverse his tariff policies, I think it could possibly result in a strong economic growth. As the removal of tariffs would likely minimize the costs for businesses and consumers and also rise trade and economic activities.
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Micro Economics / Macro Economics Spokane Falls Commnity College SFCC Econ 201/202
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