Read this opinion article from the Hill US long-run productivity (click here (Links to an external site.)). Do you agree with the article’s opinion or not? That is, do you agree the US has a productivity problem or not? If so, what should we do about it? If not, clearly explain why you think the US doesn’t have a problem. Be sure to use at least 2 course concepts to support your opinion in your answer. Your answer must be provided in the text box below and be between 200-500 words. Your response is due by Friday October 29 at 11:59 PM (Pacific Time). Brief opinion is graded on a 5-point scale. 5 Points: Answer between 200-500 words addressing the questions asked and accurately using at least 2 course concepts to support opinion. Turned in before due date and time. 3 Points: Answer between 200-500 words addressing the questions asked but makes some incorrect statements about course concepts. Turned in before due date and time. 0 Points: Everything else. Something I wrote, don’t know if it is right. “I do agree with article’s opinion. First, we need to understand why the debt is increasing. Since the beginning of pandemic, US starting use fiscal policy to help US citizens getting though this hard period of time. And there are partial people think that if I can stay at home and get money from the government, why bother working in danger? So they quit job, some people with job and ability to support themselves also apply for the fund, these all make the money not going to those people who really need them. And some choose to apply for the fund because the fund is higher than their salary. So more people choose to stay at home and get help from the government, the less people participate in the labor market. This make the growth of labor productivity historically low. The low productivity cause the need for import increase, then because the need for other countries’ s good increase, the product produce local will increase the price due to the limited amount, thus lead to inflation. I wouldn’t say that the policy makers is not trying to dealing with this challenge, in fact this is why US is trying to let other countries to buy their national debt, to decrease their pressure on inflation by getting more money supply back to the US. But if people starting to realize the challenge, similar thing happened at the beginning of the pandemic might happen again, the inflation will be so high, all the prices for essential for life will goes up, and people will be suffering again. Something to do now, is trying to encourage the local company to rehiring labor and starting produce product instead of importing. As currently the debt limit has been raised, inflation might do good because the borrower is paying less amount of money, but in long term, high inflation will affect citizen’s standard of living. ”
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