ECO203: Principles of Macroeconomics

label Economics
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schedule 1 Day
account_balance_wallet $5

  • What are the challenges that the US economy will be faced with given a higher debt limit for future economic growth?
  • Describe what would happen to GDP, the unemployment rate and the inflation rate if there is a decline in global growth?
  • Jun 17th, 2015

    Thank you for the opportunity to help you with your question!

    1.since the tendency of a higher debt limit invites high spending which cannot correlate with the revenue's collected.

    2. with other global economy parties non-perfoming,the United States would also suffer from poor trade and dollar value. Unemployment would shoot up causing a huge inflation

    Please let me know if you need any clarification. I'm always happy to answer your questions.
    Jun 17th, 2015

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