Article Review
What does it mean for the future?
Answer: As per the given article, the future generally indicates the better stability of the market to reduce the unemployment rate, wherein the job recovery is likely to be slowed down in Canada. The article discusses the mobility future, which refers to the will that happens to transportation needs in the future. Future mobility is about determined towards environment friendly, automated, integrated, and modified travel on demand. It seems to be counterintuitive, but it might be easier to predict the future for the long-term than the near-term. Thus, in the article, the future means better things after the present time.
Might it cause a Change in Fiscal Policy or Monetary Policy?
Answer: After analyzing the overall article, it can be said that it might cause a change in the fiscal policy or monetary policy when the investments are decreasing, and savings are increasing. Because the reluctance to invest is further durable when the authorities of the public with room to maneuver along with the existing demand and when the investment is less in the market than it is required even to maintain the capital stock. Hence, it can be led to savings surplus and to a safe asset shortage that generally leads to a change in monetary policy. However, it can be said that adding capital to the economy generally lowers the interest effectively that causes money to be more accessible for business growth and consumer spending and growth of spurring the economy. Thus, a change might be reflected in the monetary policy when it directly has an impact on employment and inflation.
Will there be an impact on Southern Alberta?
Answer: With the review of the overall article, it can be said that the massive effect of the pandemic has been devastating the ion the economy of Canada. There has been a plunge in oil price, trade tensions between two superpowers, and many more. In this context, it can be said that there will be an impact or effect in Southern Alberta as well because it is a part of entire Canada, and when the economy of Canada is being affected by the massive and rising rate of unemployment in the country, the entire subsections of the country will be equally affected. Therefore, the article has shown that the unemployment rate is rising at an increasing rate, which will hamper all parts of Canada, and the residents of each part will be financially affected to a great extent.
Will there be an impact on your personal economic situation, if so, what will happen?
Answer: As per the fact that Canada’s country is facing huge difficulties and crises in various aspects because of the rising rate of unemployment, there will be a massive effect on the personal economic situation. It is because employment plays a vital role in the economy of the country, and as a result, the rising rate of unemployment can lead to a huge financial crisis and productivity of the country. Therefore, a loss in the economy will hamper the personal economic situation. It is because the income level of each individual in the country will decline to a certain level, which will definitely affect the economic situation. Also, the unemployment of an individual will adversely affect that particular individual’s personal economic situation, as there will be no source of income, and as a result, he or she will not be able to afford to purchase any kind of product.