Macroeconomics

The study of economics is approached from two different perspectives, thus microeconomics and macroeconomics. Macroeconomics deals with the decision-making process, the economy's structure, behavior, and performance.(Essay Writing Services} As a branch of large-scale economic phenomena, macroeconomics addresses variables like unemployment, economic growth, and inflation.(Essay Writing Services} Therefore, we look at the U.S. unemployment rate in the last year and its impacts on the economy.

A low unemployment rate is generally indicative of a strong economy. (Essay Writing Services}The U.S. unemployment rate decreased from 3.6% in prior months to 3.5% in July 2022, the lowest recorded since February 2020 (Bureau, 2022). Businesses may be more likely to invest and expand when unemployment is low, as they will find it easier to hire workers. The decrease in the unemployment rate can be attributed to the strong performance of the U.S. economy in the past few months.

Supply and demand determines the price of commodity in the market.(Essay Writing Services} Policymakers set a price ceiling and price floor to address the issue of the maximum and minimum wages employed persons should receive based on the type of labor and job description. A  high unemployment rate means a higher labor supply than demand and vice versa (Jingdong & Wenhui, 2019).

Unemployment is a macroeconomic problem because it measures how many resources are not used in the economy.(Essay Writing Services} When unemployment is high, it means that a lot of resources, such as labor, are not being used to produce goods and services. It can lead to a decrease in economic growth.

The government uses taxes and spending as its fiscal policy tools to influence the economy.(Essay Writing Services} Moreover, the federal government should use an expansionary fiscal policy because the economy is currently in a recession. Expansionary fiscal policy will help to increase economic growth and reduce unemployment.

The difference between AS and A.D. is that AS represents the maximum amount of services and goods that businesses are willing to supply at a given level of price In contrast, A.D. represents the maximum amount of sevices and goods consumers are willing to buy at a given level of price.(Essay Writing Services}

Finally, the United States is in the long run because, in the long run, all production factors are variable, meaning that businesses can adjust their production in response to changes in demand.(Essay Writing Services} In the short run, some factors of production are fixed, which means that businesses cannot adjust their production in response to changes in demand.