Economy of United States - Essay Example

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Economy of United States

However despite the economic consequences of policies, we explore in this paper to what extent macroeconomic policies have remained successful or unsuccessful over the last three years in the light of economic objectives to cover unemployment, inflation, expenditure and balance of economic growth.
Unemployment is the foremost macroeconomic indicator that within any economy irrespective of per capita GDP is responsible for deriving income from labor market earnings. With falling living standards and rising unemployment, the macroeconomic policies have failed to lower down the rate of unemployment as the rate of unemployment in 2007 was 6 million which in 2008 has risen to 9 million and is still keep on increasing during this economic recession.
Avila & Usabiaga (2007) points out that macroeconomic policies have permanent or long-lasting effects on the unemployment rates of various US states (Avila & Usabiaga, 2007). However the impact of such policies and their persistence to our economy indicates that a high degree rise in unemployment is due to the restrictive demand policies that have become permanent component of the economy, thus leading to a higher natural rate of unemployment. ...
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Over the last three years the US Government has learned numerous lessons of the global crisis that has ended up in the failure of macroeconomic policies. It would not be wrong to say that the economic roller coaster through high mortgage and unfavorable inflation rates has slowed down the economic activity where unemployment claims have risen to their second highest level since 2005 (Savage, 2008)…
Author : luettgensabina

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