The global supply change has been stressed and strained during the pandemic. How has this affected the global production function in the short-run and how might these stresses and strains (and subsequent responses) affect the global production function in the longer term?
Remember, fiscal policy includes both government taxing and spending. Please comment on the administration’s infrastructure plan in terms of the US production function (and long-term economic growth).
At first blush it is somewhat surprising that bankruptcy filings are down during the pandemic. At second blush, it actually makes quite a lot of sense. Please consider how this short-run outcome affects the robustness of the US production function and, hence, how this short-run outcome may impact long-run growth of the US economy.
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