Two of the biggest issues in macroeconomics are inflation and unemployment. Poli

Two of the biggest issues in macroeconomics are inflation and
unemployment. Policymakers would like to keep both measures low. Often,
however, there is a trade-off between the two. A strong economy that
lowers unemployment can put upward pressure on prices. A weak economy
that lowers inflation can increase unemployment.
Before the
COVID-19 pandemic, we had both very low unemployment and inflation. Then
unemployment rose. In the future, unemployment and inflation could
change and it’s good to have policy plans in place before either of
these problems gets too bad.
Imagine that you oversee
macroeconomic policy. Start your discussion by responding to these
questions and explaining your answers:What are some of the problems, difficulties, or hardships caused by unemployment?
What are some of the problems, difficulties, or hardships caused by inflation?
If
you had to make a choice today between a policy that would head off
increases in inflation or increases in unemployment, which one would you
choose?
Be sure to respond to your classmate’s (Sheldena) posts and share your opinion about their decision below:
Hello Professor and classmates! There are several problems when
unemployment rises, it caused the economy to crash and severely impact
the output. Unemployment was hit very hard during the pandemic causing
jobs to have to close its doors, hardly anyone wanted to work due to the
affect that Covid 19 impacted. People were afraid of catching the virus
with so many families suffering or even dying from it. Problems that
were caused by the inflation were because demands from goods were
dropped and remained lower as the wave from Covid 19 cases were rising.
The government restricted a lot of business from opening its doors to
earn revenue. When businesses were able to re-open inflation were at an
all-time high due to loss incomes causing the supplies to increase a
significantly amount. I would choice to increase the inflation because
when inflation rises unemployment drop which is good thing because the
economy want crash or be impacted as much. So, an increase in inflation
would be better than an increase with unemployment causing business to
be slow or even have to shut down.