Question

what is the effect of covid-19 on micro and macro economics? and what is the way forward​

Answer 1

Answer:

Explanation:

Macroeconomic shock

Due to the measures adopted to prevent the spread of the Coronavirus Disease 2019 (Covid-19), especially social distancing and lockdown, non-essential expenditures are being postponed. This is causing aggregate demand to collapse across the globe.

In addition to the demand reduction, there will also be widespread supply chain disruptions, as some people stay home, others go back to their villages, imports are disrupted, and foreign travel is stopped. This will negatively affect production in almost all industries.

Right now, the service sector, especially travel, tourism, and hospitality, is the worst hit. Gradually the shock will spread to manufacturing, mining, agriculture, public administration, construction – all sectors of the economy. This will adversely affect investment, employment, income, and consumption, pulling down the aggregate growth rate of the economy. We are already seeing some early numbers that highlight the severity and duration of the crisis the economy may experience going forward.

Answer 2

Covid19 has effected macroeconomics a lot! Supply of goods from one country to another country has been closed these days coz of covid

We need to take some precautions! Due to the measures adopted to prevent the spread of the Coronavirus Disease 2019 (Covid-19), especially social distancing and lockdown, non-essential expenditures are being postponed. This is causing aggregate demand to collapse across the globe

• We are in the middle of a global pandemic

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