Economic Critique Essays
University of Phoenix
January 21, 2013
Currently, our country is in a recession, and the unemployment rate is at an all-time high. The unemployment rate consists of people not only out of work but also those who can work and are actively looking for work (Colander, 2010). Unemployment also means there are more people out of work than there are jobs available (Colander, 2010).
Unemployment has extremely negative effects on many people and businesses. The government budgets funds for unemployment benefits and when the unemployment rate rises, the government has to re-allocate funds to accommodate …show more content…
Interest rates and movements affect everything economically and everyone’s lives to a certain degree at different levels. To some individuals interest rates can affect them in a profitable manner or it can be devastating to others. When the U.S. economy downturn began, the unemployment rate, food prices, foreclosures, bankruptcies, the federal debt increased, and outrageous fuel prices demanded an economic reaction through monetary and fiscal policy.
A close analysis takes into consideration the studying of economic factors, and the impact on aggregate supply and demand. During this study, the unemployment rate was shifting…