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Question 1, PART A: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? QUESTION 1, PART B:Secondly, given the stock market lost over 50 percent of its value, unemployment rose from 4.9 percent to more than 20 percent, and American households lost an estimated $16 trillion in net worth. In essence, one-quarter of households lost at least 75 percent of their net worth, and more than half lost at least 25 percent. Over 40 million unemployment applications have been filed across the country. How do you jumpstart the economy and avoid inflation, if that even occurs?

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