Imagine you have been hired to solve Californias potential
economic meltdown. Given the current pandemic conditions,...
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Economics
Imagine you have been hired to solve Californias potential
economic meltdown. Given the current pandemic conditions, How
should California address this potential economic tsunami. The
Great Recession was bad, but the COVID-19 pandemic could actually
be worse. The coronavirus is changing everything: Our personal
lives, economic markets, and of course the traditional business
model. The economy of California is the largest in the United
States, boasting a $3.137 trillion gross state product as of 2019.
If California were a sovereign nation (2020), it would rank as the
world's fifth largest economy, ahead of the UK and India. How would
California adjust to the new normal especially if their 2020
forecasts of global economic growth will decrease from 3% to 2.4%?
Notwithstanding, their budgets will to lose 25 to 50 percent of
their GDP in 2021 and still maintain a level of production?
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